When it comes to competition, Netflix is keeping it chill — and strangely chipper. In its Q3 letter to shareholders Tuesday, the streaming giant said it was “thrilled to be competing with Disney and a growing number of other players to entertain people.” While the company reported an anticipated slowdown in subscriber growth, revenue was up, and production is already underway for 2021. But can the OG king of streaming be dethroned?
Netflix doesn’t appear too concerned, though the company’s shoutout to Disney suggests it’s keeping close tabs on its rival. Since launching last November, Disney+ (which has roughly 60 million subscribers compared to Netflix’s 195 million), has turned out to be a lifeline for the House of Mouse, thanks to Bob Iger’s prescient bets, as Rob Walker recently wrote in Marker.
