There’s a streaming war going on and we have no clue how will it end. As the start of November will be start of new world, because Apple and Disney are launching its services back to back and they have to face Netflix, Hulu, Amazon Prime.
It may sound exciting, as new portals new shows and lots of entertainment, but that’s not the case. As Netflix shares have already started to fall before even its competitors launch.
Netflix CEO Reed Hastings said the company plans to stick to its tried-and-true strategy around binge-able content as the streaming wars continue to evolve.
He recently said in an interview ” He admitted that a whole new world is starting in November, It’ll be tough competition, Direct-to-consumer [customers] will have a lot of choice. ”
He further said, ” Netflix will continue to focus on producing original content, although it faces stiff competition in that arena as well. Netflix bid on the rights to the hit comedy series “Fleabag,” but lost out to Amazon, he added.
His comments come as investors are increasingly zeroing in on Netflix’s struggle to attract international users. In a note to clients on Friday, Ever-core analysts said new app store data show international downloads have risen only 5% year over year, compared with 21% growth in July and August.
What is worrying is that Netflix shares reacted to the note by sliding 5.5% on Friday. So far this year, the stock has lagged behind its peers in the technology space, including Facebook, Amazon, Apple and Google. Netflix shares have fallen 10% in one month and are down 30% from its highs.
Lets see if Netflix will maintain its Regine after Disney and Apple service launch.