The streaming behemoth Netflix is ready to announce their quarterly report
After the close on Wednesday, Netflix is ready to announce their third-quarter earnings results. This is a momentous moment as this quarter is the last quarter prior to Disney+ and Apple+ debut their streaming services.
Once the earnings results are up, it will give a clear answer to whether the streaming service is stable or has lost its momentum by becoming an alternate product for its consumers.
According to Netflix, they expect 7 million new subscribers for the third-quarter. Hence, this is a crucial moment for the company. Once Netflix is ready to release its fourth-quarter earning, the streaming services of both Amazon and Apple will be running.
Apart from Apple+ and Amazon+, two new streaming services will be up by the spring of 2020. They are Peacock and HBO Max by NBCUniversal and WarnerMedia respectively.
Richard Greenfield, a well experienced analyst who deals with media and technology is optimistic about Netflix.
“Netflix is no longer about one or two key shows; rather, it has literally become what you do every night, with subscriber household watch time well over two hours per day—meaning (in addition to your smartphone) it is effectively a modern day cure for boredom, the way turning on your TV to watch cable TV used to be. There is so much content on Netflix that you literally never run out of content to watch. While bearish investors like to say there is nothing to watch, we find that statement completely disconnected from reality; not to mention if there was really nothing to watch, it is so easy to cancel Netflix, churn would be skyrocketing,” Greenfield stated.
(Reference: CNBC, Barron’s)