Netflix Swears it’s Excited About Competitors Like Apple and Disney

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Netflix released its quarterly letter to shareholders [PDF] saying that it’s excited to have competitors like Apple and Disney.

[Analysts: Apple TV+ is no ‘Netflix Killer’]

Netflix Revenue

The company announced that its Q1 2019 earnings are US$4.5 billion in revenue, which is up 22.2% year-over-year. The letter mentions Apple and Disney, but Netflix says it welcomes the competition:

Recently, Apple and Disney each unveiled their direct-to-consumer subscription video services. Both companies are world class consumer brands and we’re excited to compete; the clear beneficiaries will be content creators and consumers who will reap the rewards of many companies vying to provide a great video experience for audiences.

Chart of Netflix Q1 2019 revenue

Because of how different Apple TV+ and Disney+ will be in terms of content, Netflix isn’t worried that those competing services will impede it, saying that its streaming service only represents about 10% of total TV usage, so it still has a lot of room to grow.

[How to Turn Off Netflix Ads]

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JBSlough

I think Netflix is looking at this as another step towards people cutting the cord. They feel that their service is a “must have” in that situation. More streaming services means better opportunities for Netflix.

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leicaman

No doubt excited that Disney now owns Hulu, and narrows the number of subscriptions we’re likely to choose from, eh?