As the famed and admired early-mover in the high-quality streaming industry, Netflix has built a formidable business worth in the region of $125bn. In the past three months, it added 6.7million new subscribers, bringing its total userbase to 153million worldwide.But the next three months will prove to be its most challenging yet. Soon, Netflix will be competing with Disney+, HBO Max and Apple+ – all companies with enormous brand recognition and a strong desire to take their own slice of streaming’s riches.On Wednesday, Netflix wrote to investors to tell them that competition would be a good thing. The rising tide of streaming services would just tempt more people away from “linear TV”, as they term it, and into streaming services.“Just like the evolution from broadcast TV to cable, these once-in-a-generation changes are very large and open up big, new opportunities for many players,” the company told investors. “For example, for the first few decades of cable, networks like TBS, USA, ESPN, MTV and Discovery didn’t take much audience share from each other, but instead, they collectively took audience share from broadcast viewing.”Netflix pointed to the fact that its growth rate in the US and Canada had been almost identical in… Read full this story
- Motorola feels pressure from Verizon iPhone
- Feeling pressure, Africa's largest social network looks to expand
- Netflix feels wrath of consumers, investors
- Netflix under pressure to land streaming content deals
- 'Weather nerd' feels pressure to blog Rita
- Could Comcast be Netflix's new competitor?
- Netflix launches Fast.com, a tool to measure your Internet speed
- 'We Are All Scared For Our Jobs': GameStop Employees Share Their Circle Of Life Stories
- Netflix's Wheelman Is An Intriguing Experiment And The Cars Are Great
- All the Best Movies Coming to and Leaving Netflix in April 2017
Netflix feels the pressure as competitors circle have 299 words, post on www.bbc.co.uk at October 17, 2019. This is cached page on Europe Breaking News. If you want remove this page, please contact us.