How Did Netflix Win the Streaming Wars?
By Movieguide® Contributor
Netflix is indisputably the winner of the streaming wars — so how did the streamer do it? And how does it continue to stay on top?
“Netflix won the streaming wars,” MoffettNathanson analyst Robert Fishman told Yahoo!Finance. “The media space right now is defined by a dichotomy in which Netflix stands as a lone exception.”
The streaming platform majorly exceeded Wall Street’s expectations in its third quarter, bringing in 5 million new subscribers.
“Netflix reported revenue of $9.83 billion and operating income of $2.91 billion, both up substantially from a year earlier, and each beating Wall Street expectations,” The Hollywood Reporter wrote. “The Street had been expecting revenue of $9.76 billion, earnings per share of $5.12, and for the total subscriber count to top 282 million.”
READ MORE: WHAT’S CONTRIBUTED TO NETFLIX’S ASTRONOMICAL GROWTH?
Another component? Netflix’s content has been generating large viewership numbers. Shows like EMILY IN PARIS, BRIDGERTON and NOBODY WANTS THIS, as well as movies like REBEL RIDGE and BEVERLY HILLS COP: AXEL F, have boosted viewer numbers.
These large revenue numbers mean Netflix is now on top when it comes to the streaming wars.
“As the market stands today, Netflix’s total enterprise value is now greater than Disney, WBD, Fox, and Paramount combined,” Yahoo!Finance wrote. “It’s viewed as a growth stock on Wall Street with full-year revenue expected to climb over 15% year over year.”
Unlike its competitors, Netflix is one of the few streamers that haven’t bundled together with another platform in an effort to draw subscribers. In fact, the streamer’s been outspoken about its aversion to bundling.
READ MORE: WHY BUNDLES MIGHT NOT BE THE FUTURE OF STREAMING
Netflix is planning on a strong fourth quarter as well, with company management saying, “We’re excited to finish the year strong with a great fourth-quarter slate, including SQUID GAME season 2, the Jake Paul/Mike Tyson fight and two NFL games on Christmas Day.”
