Netflix missed its subscriber forecast in the US and Canada. Despite that, the streamer beat its overseas estimate of 7 million by adding 8.33 million.
Netflix shocked most industry observers by receiving a leading 24 Academy Award nominations, more than any other distributor, including two for Best Picture.
After the abysmal start to Apple’s new streaming service, Apple TV+, the tech company is searching for relevance with a new leader and a possible strategic acquisition.
Sony Pictures is shutting down its PlayStation Vue streaming television service in the first quarter of 2020. Rising content costs and a plethora of choices have made the service untenable.
Netflix continues to publicize unsubstantiated claims that its original films and shows outperform third-party content contrary to all independent research.
To gain a global content edge, Netflix has set into motion a EU production boom with plans to produce over 225 films and shows in Europe. Netflix currently controls 53% of the SVOD market in Europe.
Since first delivering DVDs to homes via the postal service, Netflix has come to dominate the SVOD market. The streamer has 67 million subscribers in North America, which takes its total to nearly 160 million worldwide.
Against the backdrop of new streaming competition, Netflix is significantly increasing the amount it invests in producing, licensing, and acquiring films and shows.
Heavyweights Disney and Apple are offering free introductory offers to gain a head start over rivals. Select Verizon subscribers in the United States will get free access to Disney+ for a year.
After losing U.S. subscribers in the second quarter, for the first time since 2011, Netflix finally admitted that the arrival of new streaming services from Disney, Apple, and others would hurt subscriber growth.
AT&T’s WarnerMedia released details about its forthcoming streaming service HBO Max, which will officially launch in May 2020. The service will cost $14.99 a month, the same cost as HBO’s flagship service.
Never known for adapting to changing markets, European companies are now forced to forge alliances in hopes of staying relevant after the well-timed onslaught of Netflix in Europe.
Netflix missed its quarterly subscriber forecast for the second consecutive quarter in a row. The company’s slowdown ahead of the introduction of several new subscription services is a troubling sign.
Apple raised its commitment from $2 billion to $6 billion this year to fund original shows and films for its new subscription video service, Apple TV+.