Roger Fingas
Netflix on Tuesday said that it doesn't see much threat from two upcoming competitors, Apple TV+ and Disney+, each launching towards the end of 2019.
"Both companies are world class consumer brands and we're excited to compete," Netflix wrote in a first-quarter earnings report, highlighting revenues up 22.2 percent year-over-year at $4.5 billion. Studios and viewers, it said, will "reap the rewards of many companies vying to provide a great video experience for audiences."
Neither of the new rivals will "materially affect our growth," Netflix added. The on-demand market has room for multiple companies, it argued, and Netflix's content is sufficiently unique.
Netflix was the first to popularize on-demand video streaming and is now available in over 190 countries, the only major exception being China. Many of its TV shows have become cultural institutions.
Disney+, launching Nov. 12, will cost just $6.99 per month or $69.99 per year, with titles from the likes of Marvel, Pixar and Lucasfilm. At least some of these are disappearing from the Netflix catalog or were never there in the first place — to the anger of fans, Disney+ has also resulted in the cancellation of Marvel Netflix shows like "Daredevil" and "The Punisher."
Apple TV+ is due sometime this fall. Many details are still under wraps, but Apple is counting on a barrage of original shows with creators like Steven Spielberg, J.J. Abrams, and Oprah Winfrey. It's unclear what if any licensed material will be available.
Malcolm Owen
Christine McKee
Charles Martin
William Gallagher
Amber Neely
19 Comments
Interestingly enough, Apple entering this space has caused me to cancel just about everything I had except Netflix, and the new DC comics. I canceled HBO, HULU, YoutubeTV, and I will cancel CBS after the finale of Star Trek this week. All of these services combined are too much money. I can wait for Game of Thrones to finish, then I will purchase it on iTunes and have more fun bingeing it. I see nothing interesting in Apple's offering yet. they are going to have to get to a model where I can purchase a show for download for $40 or something like iTunes. This $14 and $15 a month crap isn't going to work.
Because it doesn’t have much material income to affect?
I for one, am waiting for a better bang for my buck. I wouldn’t consider Netflix expensive, by any standard, but its library is meager in markets outside the US. I also don’t see much point in subscribing to multiple streaming services. So the better one, in my case, will be “the one”.