Despite Rising Competition, Netflix Sees 20 Percent Subscriber Growth

In the past few years we have seen a change in how people watch various series and feature films. With everyone on the run and with smart phones, tablets and laptops there are less people watching television on good old fashion cable. Ahead of this trend has always been Netflix, who has had a stranglehold on the market for a while. Slowly the other studios and companies have caught on and are now looking to offer their own streaming services with their own exclusive content. Already we have seen the others like Amazon Prime Video, Apple TV+, CBS All Access, DC Universe and the most notable addition Disney+ enter the market with their own carrots to dangle at audiences. Soon WarnerMedia and NBC will also join in with their own services. So with all that said, has this hurt Netflix’s numbers?

Although the domestic numbers are a little lower than expected, when you take into account the global members, the fourth quarter of 2019 saw a growth in subscribers despite the competition according to The Hollywood Reporter, in which they added 8.8 million subscribers. This means that Netflix now has 167 million global members, which is up 20 percent from the same time the previous year. Domestically that included 420,000 new subscribers where Netflix has the most market saturation and 8.3 million new subscribers abroad. Netflix attributed the growth to it’s “broad slate of original programming and the worldwide adoption of streaming video.”

Netflix had forecast 7.6 million new subscribers due to the growth around the world and while it beat it’s overall forecast, it did have lower than expected numbers in the United States, where they thought they would have 600,000 new subscribers. The revenue for the fourth quarter was $5.5 billion and had earnings of $1.30 per share. But they are not slowing down anytime soon as they are expecting to add an additional 7 million subscribers during the first quarter of this year, which will be down from 2019’s 9.6 million additions.

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This should not come as a surprise as Netflix continuously releases new content, whether it’s another season of one of our many favorite series like Stranger Things, Money Heist, Narcos, You and so many more. Or one of it’s many feature films like The Irishman or Underground. With constant content being added every month, it keeps us viewers coming back for more. Meanwhile as exciting as the debut of Disney+ was with a lot of nostalgia and the debut of The Madelorian, it has kind of fizzled down as we wait for the new Marvel series that Disney is currently working on and other content. It almost seems like you could get rid of it for a few months and really not miss out on much. One thing that is for sure, Netflix will not be giving up it’s streaming service dominance anytime soon.

How do you feel Netflix has done in weathering the storm of a wide range of competition? Let us know in the comment section below!

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Source: The Hollywood Reporter

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