(Reuters) – Netflix Inc has entered a new year that will be far tougher than the one it left behind.
International growth helped the streaming video service trounce expectations in the last quarter of 2019.
But the company acknowledged competition had an impact in the United States, where growth missed Wall Street targets – and that competition will become more global as the Disney+ service launches across Europe in March.
Rivals including Walt Disney Co and Apple Inc are now fighting for streaming customers, and Netflix said it expects to add 7 million subscribers globally in the first quarter, below analysts’ average of 8.82 million, according to IBES data from Refinitiv.
For a company that has historically taken great pains to avoid mentioning competitive forces – it once called the video game Fortnite a bigger rival than other streaming services – it spent a considerable amount of time explaining why Disney’s power will not have as damaging an effect on its engine of growth…
Source Reuters Tech News