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Netflix grows to 158 million subscribers as Disney+ looms
Netflix just released its results for Q3 in 2019 (PDF), showing that it added slightly fewer subscribers (6.77 million) than the 7 million it anticipated, while still notching an all-time record for the quarter. The company cited lower retention rates in the US since its most recent price hike, and justifies with a statement that "With more revenue, we'll continue to invest to improve our service to further strengthen our value proposition." The one thing the company's investor letter seeks to convince people is that the problem isn't competition, with the likes of Amazon Prime and Hulu already here ahead of Disney+ and Apple TV+ launching later this year with HBO Max and Peacock waiting in the wings. Specifically it pulled up a growth chart for Netflix in Canada (as measured by penetration in broadband connected homes) to compare with the US to claim that Hulu's impact on it doesn't really exist. With more competition incoming, soothing investor's nerves will be key. When Disney is dropping three hour trailers for the video it has, the Netflix library will be compared, top to bottom, with these new entrants.
Everything Disney touches turns to gold (except 'Dark Phoenix')
Disney continues its 2019 hot streak through the third quarter of the year, according to Tuesday's earnings report. The multimedia juggernaut recently closed out its mammoth 21st Century Fox buy, opened the Star Wars Galaxy's Edge at its Southern California theme park, and is quickly gearing up for November's Disney+ stream service debut -- all of which serve to further cement Disney's position at the apex of the global entertainment market. But Mickey's masters are not done yet.
