Netflix has been the “King of Streaming TV” for a while now, but how long will its reign last for? The company announced that in Q4 2019, it added 8.76 million new subscriber internationally, which beat expectations, but only grew its US customer base by 420,000, falling short of its forecasted 600,000.
Netflix attributed this discrepancy to an increase in competition from new streaming players like Apple TV and Disney Plus, who both launched last year. Even with this slight miss, King Netflix still has over 167 million customers globally. However, if Netflix is already seeing hits to its business, what’s going to happen as Apple TV and Disney Plus continue to grow? Plus, new competitors, like NBC’s Peacock and HBO Max, are planning to launch in 2020.
With so many options, will people get more selective with which platforms they spend their money on? The initial value proposition with the streaming TV apps is cutting the chord from expensive cable bundles. However, with so many options available now, customers could eventually be spending as much or even more, subscriber for $10 here and $5 here. Plus there’s only so much time in a day to consumer the plethora of content available. Netflix has an endless catalogue. Disney Plus and the upcoming HBO Max too. In my opinion, customers will start being more mindful and picky of the streaming apps they subscribe too, weighing quality of content as a determining factor. Netflix doesn’t have the best quality content when compared to others, banking on quantity versus quality, which could make it vulnerable. I still haven’t found the urge to finish Marriage Story.