Netflix Reaches 158 Million Subscribers in Final Quarter Before Launch of Disney+ and Apple+
Netflix announced their Q3 earnings today and while the service’s added 6.8 million subscribers worldwide, it was just below the 7 million they projected, and the 6.1m subscribers they added in the same quarter last year. Netflix added 520K subscribers in the U.S., and another 6.26 million internationally. The company now has 158.3 million paid subscribers around the world, with 60.6 million of those coming in the U.S.
Netflix is still huge in comparison to the other streaming services out there. In August, Disney announced that Hulu has 28 million subscribers in the U.S., while Amazon announced that they had 100 million Prime subscribers, but according to a report by Reuters only 26 million U.S. customers stream videos on Prime Video.
With recent price hikes, removal of popular content as well as looming competition from Disney+, HBO Max and NBCUniversal’s Peacock on the horizon, the company is facing more competition than ever before.
The company stated, “Over the next 12 months, Disney, Apple, WarnerMedia, NBCU and others are joining Hulu, Amazon, BBC, Hotstar, YouTube, Netflix, and many others in offering streaming entertainment. The competition for winning consumers’ relaxation time is fierce for all companies and great for consumers. The innovation of streaming services is also drawing consumers to shift more and more from linear television to streaming entertainment.” This wouldn’t be the first time that Netflix has faced challengers, whether it was from Blockbuster in their previous incarnation, or premium channels like HBO and Showtime, when they first started creating original content.
Despite the impact of the November launches of Apple TV+ and Disney+, Netflix is still expecting to grow by 7.6m paid memberships (with 0.6m in the US and 7m internationally) in the fourth quarter — which is more than a million less than the 8.8m a year ago.