Apparently, No One Is Competing with Netflix


In the over-the-top and online streaming space, as well as broadcast and cable, many businesses seem to be completely ignoring Netflix’s market share. This is fairly significant.

At the Digital TV World Summit 2014 yesterday, Director of Online and Brands for ITV Paul Kanareck stated that “Netflix is a totally different world,” and went on to contrast how ITV and Netflix’s business models totally diverge.

Other leading executives have made similar remarks in the past.

Jeff Bewkes, the CEO of Time Warner, which owns HBO, refused to acknowledge any sort of rivalry, telling The Wrap around this time last year that the two companies are “complimentary services.”

Roy Price, Director of Amazon Studios, also dodged questions on Netflix back in August, describing the industry as a “diverse ecosystem,” and observed that “it doesn't really serve you too well to spend a lot of time thinking mainly about the competitors and what they’re doing.”

Another streaming head honcho, Redbox Instant CEO Shawn Strickland, also held this line back in 2013.

“Netflix, Hulu, etc., are not our biggest challenge,” he said. “Market competition is not even on the top of the list.”

Perhaps it should have been, as Redbox Instant closed its doors in failure after only a year and a half this past October.

Netflix, on the other hand, recognizes that competition exists. Ted Sarandos, Chief Content Officer, told a group of investors way back in 2012 that the company “never thought that [they] were going to operate without competition.”

And where is Netflix today?

Digital TV Research just reported that they’ll have more than 17 million paying subscribers outside of the U.S. by the year’s end, with more than 50 million in total. A new study from Sandvine found that Netflix “continues to dominate North American networks.”

Despite a recent stock decrease, Motley Fool financial gurus currently say that Netflix is still “a top stock to buy,” “a perfect fit for opportunistic investors” and “a core holding.”

Maybe if other services admitted Netflix’s success, they just might be able to put a dent in it.

Author: Brian Cameron

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