Impressed By ‘Soul’ And Subscriber Numbers Netflix Says Need To Up Their Game
Netflix released its positive fourth quarter earnings yesterday but according to a piece in Business Insider they’re watching Disney+ who has boasted some mighty impressive subscriber numbers and successful releases like ‘Soul.’
When asked about Disney’s foray into streaming, Netflix CEO Reed Hastings said, “It’s super impressive what Disney has done.” He continued, “It’s incredible execution for an incumbent to pivot to take on the insurgent. It shows members are willing and interested to pay for more content because they’re hungry for great stories. And Disney does have great stories.”
So what does it mean for Netflix’s strategy going forward!? Reed seems to be embracing the notion that a little competition with Disney is a good thing. Hastings said, “It is going to be great for the world that Disney and Netflix are competing show by show, movie by movie,” Hastings said. “And we’re very fired up about catching them in family animation, maybe eventually passing them, we’ll see.”
However, even though Disney+ has surpassed expectations when it comes to subscribers (hitting their four year benchmark of nearly 85 million subscribers in one year) Netflix still remains the giant in the field. During the earnings report it was revealed that Netflix has crossed a major milestone and can now boast that it has over 200 million paid subscribers. It had 8.51 million subscribers during the fourth quarter of 2021.
Disney said in December that Disney+ was up to 86.8 million subscribers as of December 2.
Netflix is hoping to catch up with Disney when it comes to family animation where the studio has a distinct advantage. However, during the earnings call, Hastings said that it is still the leader in general entertainment with shows like Bridgeton which was watched in over 63 million households.
However, Disney will certainly be giving Netflix a run for its money in 2021 with plans to launch an ambitious schedule including releases from Star Wars, Marvel and Pixar! The Walt Disney Company has updated its yearly projections for Disney+ saying that it hopes to reach 260 million subscribers by 2024.
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Source: Business Insider