The New York Times reports that Netflix recently acquired 420,000 new subscriptions to their streaming service in the last three months of 2019. The company had hoped to gain around 600,000 new subscribers but fell short of their initial projections. Reed Hastings, Chief Executive Officer of the streaming juggernaut acknowledged that the recent launch of Disney Plus may be to blame for the slowed growth. He cited the great lineup of content Disney is offering on their new service as a potential reason behind the missed projections. However, this is not to say that Netflix is in any way starting to slow down in its monumental domination of the streaming landscape; it just may have to share the limelight with Disney Plus to a certain degree. Netflix still has a whopping sixty one million subscribers in the United States alone, making it by far the biggest streaming service available on the market. After the recent report of missed projections, Netflix’s stock still rose two percent. Ultimately, the company hopes to gain an additional thirty million subscriptions in the United States over the next few years.
I found this article to be fascinating as it serves as a perfect example of Netflix’s staying power and ability to remain not only relevant; but the indisputable king of streaming services. Even when the company misses their targeted projections, they still grow on the stock market which perfectly encapsulates investors faith in the company. It remains to be seen if Disney Plus and new streaming services such as NBC’s Peacock which launch in the coming months will take a chunk out of Netflix’s market share; however as of right now it is undeniable that Netflix remains top dog.