Netflix will be getting good competition in less than a year. This is because of the big players who are about to enter the industry of streaming video services. Will this scare Netflix? Will the company not hike its prices now? Know complete story here.
Netflix: the competition
The streaming service provider will now get tough competitions. This is will be from big players from all areas.
Apple has made an announcement last month. It will come up with Apple TV+. However, this will happen within 12 months and not immediately.
Moreover, Walt Disney also announces that it will come up with Disney+. This announcement was made on investor day by the company.
There are also chances if NBC Universal of Comcast to join the list. Moreover, Warner Brothers of AT&T might also join the list.
Diney+ will be priced at $6.99 per month. The yearly subscription will be of $69.99. the most popular plan of Netflix is of $12.99 per month.
Moreover, as competitors enter the market, they will surely keep their prices. Moreover, this will be in comparison to Netflix.
According to sources, the services of Comcast will be free with adds. For its WarnerMedia product, AT&T will be giving three tiers of services.
These will be different. However, the company has not released its prices. Moreover, Apple has also not released the price list.
The reaction of the company
The CEO of Netflix, Reed Hastings is not terrified at all. He says that there is already a lot of competition. This statement comes from Hastings on first quarter earnings call of the company.
Moreover, he also says that the company has only 2 percent downloading. This means 98 percent of the population is not downloading Netflix.
Because of this, there is already a lot of competition. About 90 percent of the people in the U.S do not watch Netflix.
So Netflix is not worried about the competition.