Netflix Shrugs Off Its New, Bigger Competitors — Apple And Disney [Forbes]
Walt Disney Company (The) (DIS)
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Source: Forbes
Netflix Shrugs Off Its New, Bigger Competitors — Apple And Disney Netflix shrugged off the competitive threat posed by Apple and the Walt Disney Co., both of which unveiled rival subscription streaming services in recent weeks. The big dog of Internet TV acknowledged the new competitors as “world-class consumer brands” whose forthcoming services would be a boon to consumers and content creators alike. But Netflix CEO Reed Hastings isn’t letting the competition see him sweat. “We don’t anticipate that these new entrants will materially affect our growth because the transition from linear to on-demand entertainment is so massive and because of the differing nature of our content offerings,” Hastings wrote Tuesday in an investor letter that accompanied Netflix's first quarter earnings release. Netflix reported record 9.6 million subscribers in the quarter that ended in March. Much of that growth—7.86 million subscribers—came outside the U.S. The company forecast slower growth in the sec
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