Former Sling TV Exec Says Netflix ‘Growth Can’t Continue at the Same Rate’ as New Services Gain Market Share
For a long time, Netflix had been the lone cowboy in the streaming world, but over the past several years, other services have launched to compete with the service. The last seven months, particularly, has seen media companies retract content from Netflix as they have launched their own services to compete with the streamer.
While Netflix has gotten a boost from the pandemic and continues to retain its spot as the number one go-to streamer, former Sling TV EVP and president Warren Schlichting believes the services is going to do some readjusting as the likes of Disney+, HBO Max and Peacock gain marketshare. During a fireside chat for FierceVideo’s OTT Blitz Week today, Schlichting gave his view on where the streamer is headed in the next few years.
“I just think they have done an enormous job. It’s like being the fastest runner in an event and trying to continue to beat your own personal records. They’re so far ahead of the competition,” he stated. “But how do they continue to stay active, stay hungry, keep moving, run faster? I do think their growth just can’t continue at the same rate. Challengers will learn and take shots at them … Do they remain in the lead? I think so. Do they lose some share on a percentage basis? Probably. I think it’s inevitable. You’ve got good offerings from Disney and Hulu and others.”
In their Q2 2020 earnings report released earlier this month, the streaming giant revealed they reached nearly 193 million global subscribers. The global subscribers figure is up 10 million from the nearly 183 million global subscribers they hit in Q1 2020, and even higher than the 167 million global subscribers and 61 million U.S. subscribers they reached in Q4 2019.
The company also announced that longtime chief content officer Ted Sarandos, will also serve as co-CEO of the conglomerate, along with Reed Hastings.