Netflix could lose nearly 9 million subscribers to Disney+ when consumers assess their subscription choices later this year
According to a new survey by Streaming Observer, Netflix could be losing millions of subscribers by the end of the year to Disney+ alone.
It's the year of subscription choices and streaming battles - Disney is coming out with Disney+, Apple is launching its star-powered Apple TV+, NBC is well on its way to developing a streamer of its own and then there's AT&T and WarnerMedia. It's going to be a war for sure and Netflix, the streaming giant that has to have inspired them all, may be the one left picking up the pieces. According to a new survey by Streaming Observer, Netflix could be losing millions of subscribers by the end of the year to Disney+ alone.
Out of the current US Netflix subscribers, 14% of the company’s customers are considering hitching their TV wagons to Disney+ and dumping Netflix and that may not seem worrying but it represents nearly 9 million customers for the service. Netflix on a global scale has about 150 million subscribers.
All of the billions spent on original programming by the platform clearly isn't working out and there's a simple reason why. Disney has what Netflix can only wish to - a massive collection of Disney movies and shows, Pixar content, Marvel and Star Wars content, and a whole lot more - about 5,000 episodes of television on the very first day and 500 movies and 2,500 additional archive TV episodes by the first year.
Then there's the formidable collection of nostalgic stuff like 'The Little Mermaid', 'Toy Story' (1995), 'DuckTales' (1987), 'Goof Troop' (1992), 'Boy Meets World', 'That’s So Raven' and the like. Then there's content that's come over to Disney from the Fox acquisition like 'The Simpsons'. The company spent $71.3 billion in its acquisition of 21st Century Fox’s entertainment assets so it is probably safe to assume that they intend to profit as much as they can. If there's anything we've learned from Nielsen's Total Audience Report it is that nostalgia matters - even NBC is trying to build its streaming service on its strength.
The survey found that parents formed a large group of subscribers that would let Netflix go or would consider it. The survey found that 23% of parents with kids in the age group of 15 years and younger in their household may cancel Netflix in favor of Disney+, while only 10% of those without kids will possibly cancel. 37.5% of the people surveyed wanted to try Disney+ when it’s released. That alone represents an audience of 22.5 million people waiting to try Disney+, the survey states.
Now we have to remember that real life isn't 'Game of Thrones' and not everyone behaves like Brienne of Tarth so it is likely that the cancelation may not be as high. But, even then, this is something that Netflix should consider. Disney is giving away this plethora of content for just $6.99 per month that also comes with the option of a discounted annual price. Everyone else in the game charges more - Netflix costs $8.99 a month for their most basic plan.
With everyone out to get Netflix, it definitely feels like it may have finally met its match.