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· Posted on
February 21, 2024

Disney just overtook Netflix in the streaming wars and all we can say is ouch

Disney just overtook Netflix in the streaming wars by reaching 221 million subscribers worldwide.

What's the key learning?

  • Disney launched Disney+ as a competitor to Netflix and now it's got Hulu and ESPN+ on its list too
  • Disney reached 221 million subscribers worldwide which is more than Netflix
  • The TV space is changing and the gap between the disruptors and the disrupted is closing

👉Background: The Walt Disney Company launched its Disney+ streaming service in 2019 as a competitor to Netflix. But Disney has actually got three streaming services in total. Disney+, Hulu and ESPN+.

👉 What happened: Now between the three, Disney has muscled its way to 221 million subscribers worldwide. That’s more than Netflix, the OG! But the surprising twist is that Disney is also planning to launch an ad-supported tier of Disney+.

👉 What else: Looks like streaming services are slowly becoming more similar to each other… and to traditional TV.

What's the key learning?

💡The TV space is changing, and the gap between the disruptors and the disrupted is closing.

💡When online streaming services like Netflix entered the fold, they were incredibly effective in disrupting PayTV and free-to-air TV because of three big advantages:

1. They were completely ad-free

2. They were on-demand

3. They were reasonably priced

Netflix started out at just US$8, but now premium US users are paying as much as US$19.99.

💡Add on the rise of broadcast video on demand - aka catchup TV - and you’ve got a perfect storm coming right towards the streaming industry.

‍

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