Netflix has dominated streaming for years, but now there are new kids on the block, in Disney Plus and Apple TV Plus. But, with the competition dial turned up to 11, the original streaming giant seems remarkably relaxed.
Reed Hastings, the CEO of Netflix, was recently asked about Disney Plus, and he made some… frustratingly nice comments.
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“I’m not saying we worry about them, we admire them,” he told New York’s Dealbook Conference attendees, a little earlier this month.
“I’ll subscribe, they’ve got great shows… Disney is an amazing company and they’re going to have great success.”
Netflix is also going to learn important lessons from Disney, or so the CEO hopes. He explained: “There’s a bunch of tech companies that are in entertainment but Disney is the one that we really have the most to learn from in terms of entertainment.
“They’re a wonderful competitor because they really understand creativity. We learn. We observe. We watch them.”
Disney and Netflix certainly do make interesting rivals. Netflix is the dominant streaming force but, as a company, it’s much younger than Disney. As a result, Disney has a huge back catalogue to bring into play, including classic cartoons and the sci-fi behemoth that is the Star Wars franchise.
Conversely, Netflix’s biggest shows are The Office (US) and Friends, both obviously licensed content that it has paid for, in order to stream on the platform. The platform’s largest original success, Stranger Things, however, hugely popular and will no doubt inspire new content.
So, what exactly will Netflix learn from Disney Plus? Well, the initial seems to be the importance of young viewers.
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Streaming Observer has reported that up to 8.7 million subscribers could ditch Netflix in favour of Disney Plus by the end of year. Reportedly 28% of parents with children under 15 years-old are considering switching to Disney Plus. Only 10% of those without children are reportedly considering making the same move.