New Report Claims Netflix Lost Over 1 Million Subscribers After Disney+ Launch. Previously, it was believed that the launch of Disney+ would have a minimal impact on its competitors, but there may be a decrease in subscriptions for their top competition after all. A new analysis of Netflix‘s subscriber predictions from Cowan & Co. estimates that Netflix could see a decrease of up to 1.6 Million subscribers after the launch of Disney+ and Apple TV+.
Overall, Netflix is not worried about the likely loss, and is still predicted to reach its quarterly increase in subscriptions. Current prediction believe Netflix will have earned 7.6 million subscribers in its 4th quarter, which would put the streaming service at a 6 million increase if the predicted number of subscribers leaves the service by the years end.
Netflix CEO Reed Hastings shared his lack of concern by dismissing the details and looking at the big picture. “Fundamentally, there is not a big change here,” Hastings said, adding, “All of us [streaming services] are competing with linear TV and we’re all relatively small to linear TV.”
THR initially reported on the findings by sharing, “Cowen & Co. polled 2,500 U.S. consumers. Of those surveyed, 21 percent said they had signed up for Disney+, indicating that the service had amassed 24 million U.S. subscribers in November. The study also revealed that 19.4 million respondents were dual subscribers, indicating that there was an 80 percent overlap between the services’ customer bases,” THR continued, “Further, per the note, the survey suggested that 5.8 percent of Netflix members canceled their subscriptions after signing up for Disney+. Of the estimated churn, Blackledge wrote, “assuming a portion wouldn’t churned regardless of [Disney+’s] launch; incremental churn appears manageable.”
Have you dropped Netflix in favor of Disney+? Did you “cut the cord” and decide to switch to streaming in favor of cable television? Which streaming services are your favorites? We would love to hear your thoughts in the comments. Be sure to check back here at Chip and Co. for all things Disney+!
Featured Photo Credit: Disney+/NetflixFollow Chip and Co on Instagram @chipandco or on Twitter @chipandcompany
Watch our latest Youtube Videos here.