Netflix, the flagship name in streaming, has no plans to become a casualty of the so-called Streaming Wars.
According to THR, the company added close to 8.8 million subscribers in the fourth quarter of 2019, bringing its total subscriber count to 167 million worldwide. This represents a massive 20 percent year over year increase for the platform.
"Many media companies and tech giants are launching streaming services, reinforcing the major trend of the transition from linear to streaming entertainment. This is happening all over the world and is still in its early stages, leaving ample room for many services to grow as linear TV wanes," Netflix CEO Reed Hastings said in the company's shareholder letter. "We have a big headstart in streaming and will work to build on that by focusing on the same thing we have focused on for the past 22 years — pleasing members. We believe if we do that well, Netflix will continue to prosper. As an example, in Q4, despite the big debut of Disney+ and the launch of Apple TV+, our viewing per membership grew both globally and in the US on a year over year basis, consistent with recent quarters."
In addition to the aforementioned Disney+ and Apple TV+, Netflix also faces stiff competition in the form of Amazon Prime Video and Hulu, as well as the soon-to-be-released HBO Max and Peacock, among various other streaming services all vying for consumer's dollars. However, with Netflix reportedly spending $17 billion on new content for 2020, the streaming giant isn't showing any signs of slowing down.