The Bleak Future of Netflix since the Dawn of Disney+
The launch of Disney+ streaming service in November 2019 led to an approximate loss of 1.1 million Netflix subscribers. This is according to a report released by Cowen. Most of the people who canceled their subscriptions were in search of more entertainment. The Disney+ streaming service requires a monthly subscription of $6.99. This is cheaper compared to Netflix that offers a family package at a $12 monthly subscription. As we come to the end of the year, Disney+ has not only scooped top trending Google search in 2019, it has also grown to an estimated 24 million subscribers. In comparison, streaming giant HBO took approximately three years to reach half those subscribers.
Disney boasts of the top Blockbuster releases and has numerous shows in the chain which are a threat to Netflix. The mammoth that is Disney has vast experience in the film industry that has been demonstrated through the vast array of entertainment produced since its launch in 1923.
Over time, Disney+ has designed to synchronize the high budget film releases in cinema with short films exclusive on its streaming platform. For example, the Marvel franchise, a big win for Disney, will release short series and films on its streaming platform Disney+, whose stories will tie to the cinema movie releases. Such dependence is a sure win strategy for Disney+. Netflix, on the other hand, does not have such a model. It purely relies on advertising to pull traction for its releases on Netflix.
Disney+ will be the home to major brands such as National Geographic, Pixar, Lucasfilm, and Marvel. These have all been the brand behind high-grossing movies that have broken records like the Avengers sequel. Netflix, on the other hand, is yet to reach record-high levels with some of its major franchises like Money Heist. In comparison to Disney+, Netflix has been dwarfed significantly.
Records deals like Verizon’s unlimited wireless customers accessing one year free of Disney+ streaming enable the service to maintain a great competitive edge. It may be a while before Netflix can obtain significant traction to dominate the streaming industry as it previously did.
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