Netflix Not Threatened By Apple, Disney Streaming Services

Netflix, after proudly announcing their highest quarterly revenue in history, said they are not threatened by upcoming streaming services from Apple and Disney.

In a report, Netflix said they have surpassed $4.5 billion in the first quarter of 2019, with paid memberships growing 26 percent year-on-year. As the current biggest streaming service, Netflix said they have no reason to worry about upcoming streaming services from tech giant Apple and entertainment giant Disney.

Netflix said there is a huge demand for exceptional TV shows and movies, and they are only able to satisfy a portion of that demand. Disney+ and Apple+ are likely to satisfy portions as well. Still, Netflix believes these newcomers won’t be a problem for them.

“We don’t anticipate that these new entrants will materially affect our growth,” Netflix said in a statement, adding, “because the transition from linear to on demand entertainment is so massive and because of the differing nature of our content offerings.”

The streaming giant said the inevitable competition between them and the two upcoming streaming services will bring benefits to many.

First, content creators will have be given more room to create new content. Second, consumers will be given more choices when it comes to TV shows and movies.

Obviously, the streaming giant remains unfazed. “Both companies are world class consumer brands and we’re excited to compete,” Netflix said.

Netflix and the competition

Netflix introduced on-demand online video streaming to the masses. To date, the service is available in almost 200 countries, offering a host of TV series and movies like “Bird Box,” “Stranger Things” and “Orange is the New Black.”

Netflix, in tandem with Marvel, also produced shows such as “Daredevil” and “The Punisher.” These shows, however, have been canceled because of Disney’s upcoming streaming service, Apple Insider reported.

Disney+ is also going to offer a host of great titles, including “Star Wars” and a slew of Marvel favorites, Forbes noted. If that’s not enough, the Mouse House is also going to throw in a subscription price lower than what Netflix offers -- $6.99 per month -- compared to Netflix’s cheapest offering at $8.99 per month.

Apple TV+ is also slated to release a variety of offerings from the likes of Steven Spielberg, Oprah Winfrey and J.J. Abrams.

How Netfilx fares against Disney+ and Apple TV+ remains to be seen. What’s sure is that consumers will have more shows to watch and movies to enjoy.