Amaya Toman Netflix released its financial results for the first quarter of this year this week. That's $4,5 billion in revenue, a 22,2% year-over-year increase. In its letter to investors, Netflix also expressed, among other things, potential competition in the form of streaming services from Disney and Apple, which it says it is not afraid of.
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In a statement, Netflix described Apple and Disney as "world-class consumer brands" and said it would be honored to compete with them. In addition, according to Netflix, both content creators and viewers will benefit from this competitive struggle. Netflix is certainly not losing its optimism. In his statement, he said, among other things, that he does not believe that the mentioned companies would negatively affect the growth of his streaming service, because the content they will offer will simply be different. He compared Netrlix's situation to cable television services in the United States in the 1980s.
At that time, according to Netflix, the individual services also did not compete with each other, but grew independently of each other. According to Netflix, the demand for watching interesting TV shows and enticing movies is really huge at the moment, and as such, Netflix can only satisfy a fraction of this demand according to its own statement.
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The Apple TV+ service was officially introduced during the spring Apple keynote and promises mainly original content, consisting of feature films as well as TV shows and series. However, Apple will reveal more details only in the fall. Disney+ was also introduced this month. It will offer a wide range of content, including all episodes of The Simpsons, for a monthly subscription of $6,99.
Source: 9to5Mac
