The streaming wars officially kicked off earlier this month with the arrival of Apple TV+ and Disney's new video-on-demand streaming service, Disney+. Many felt that Disney's streaming platform would give streaming giant Netflix a run for its money and it's understandable why.
Disney+ amassed more than 10 million subscribers within 24 hours of its launch with its vast catalog of titles from Disney-owned heavyweights like Pixar, Marvel, and Star Wars in addition to original content.
Netflix Remains Unaffected
However, new data has emerged suggesting that Netflix subscriptions have remained unaffected by rival streaming platforms. Bloomberg pointed out that the number of users cancelling their Netflix subscriptions has not increased after the arrival of Apple TV+ or Disney+, according to a source familiar with the company's subscriber information.
Data from Google searches and market tracker Sensor Tower Inc. also affirms the sentiment that Netflix is holding its ground. However, those findings have taken into consideration the company's addition of new subscribers, instead of losing the ones it already has.
The above-mentioned data does not necessarily mean that users are leaving one platform for the other. Many customers will be okay with shelling out for both the $7-a-month Disney+ and the $13-a-month Netflix subscription and if you've recently purchased an Apple device, you won't even have to pay for the first year. In this case the only real losers are the cable and satellite television providers because users end up spending a lot more on them than multiple streaming services.
Still, it's too early to tell which streaming platform will emerge as a winner in the ongoing streaming war. While subscribers are unlikely to cancel their Netflix subscription on the very same day they sign up for a rival they might take their time and decide later that they don't need both.
However, that doesn't mean it's all smooth sailing for Netflix. The only thing easier than signing up for a streaming service is cancelling it, and consumers will tilt towards platforms that offer fresh content and new players, including Comcast's Peacock and AT&T's HBO Max, will soon enter the arena.