The US web video company signed up 6.8m original subscribers to its monthly service within the third quarter of the three hundred and sixty five days, an improvement on the earlier three months, when it recorded its slowest boost for three years and despatched shares tumbling. However, we still expect that coming competition with lower-price plans will test the price sensitivity for these core users-both Apple TV+ and Disney+ will launch in November, with HBO Max and Peacock from NBCUniversal following next spring.
In fact, Netflix estimates that right now it only makes up "less than 10% of TV screen time" in the USA, which is its strongest and most mature market. "In Q3, Season 3 of La Casa de Papel (aka Money Heist) became the most watched show on Netflix across our non-English language territories with 44m households watching the new season in the first four weeks of release", Netflix said in its letter to shareholders. We're all relatively small to linear TV. He said: "Over the next 10 years, many streaming services will grow viewing as streaming replaces linear TV". "So we're not really competing with each other, but with broadcast".
Today, media streaming giant Netflix has posted its Q3 2019 earnings and added in a shareholder letter that they're not too anxious about the upcoming launch of Apple TV+. However, if consumers can be convinced to shed their traditional cable subscriptions, they'll realize that they can easily subscribe to and enjoy several streaming providers for considerably less.
With new services on the way, Hastings predicted that more consumers will begin subscribing to multiple streaming services due to their unique content offerings. The company also added that it's well-aware the market is slowly but surely moving in the direction of streaming TV and the new services will push it even further in that direction.