Netflix seems unfazed by Disney and Apple amid huge quarter
After boasting about one of its biggest quarters to date, Netflix CEO Reed Hastings doesn’t seem too concerned about Apple and Disney’s upcoming streaming services.
Hastings and Netflix chief financial officer Spencer Neumann issued Netflix’s first quarterly earnings for 2019, directly addressing recent presentations from Disney and Apple about their forays into streaming. The letter to investors recognized that Disney and Apple are both “world class consumer brands,” adding that Netflix is “excited to compete.” While the field of competition is growing, neither Hastings nor Neumann is worried about Disney or Apple stealing subscribers or impacting Netflix’s own growth, considering the “transition from linear to on demand entertainment...