Netflix released its Q4 2020 financials yesterday . Against the background of the success, the heads of the service expressed their opinion about the competitor in the person of Disney +, which is gradually gaining popularity.
Very impressive what Disney has done. This is incredible performance and we are glad that the company is interested in it to tell more stories. Their appearance prompts us to increase the budget for content creation.
The world will only be better off that Disney and Netflix compete with each other. We are motivated to catch up with them in family animation, and maybe even get around them, although we are still far from their level.
Co-founder and CEO of Reed Hastings
Netflix co-CEO Ted Sarandos drew attention to the fact that the holiday period showed the interest of people in having multiple subscriptions at once. Some chose Wonder Woman 1984 on HBO Max, while others chose Soul on Disney +. This is a positive dynamic, he said, given that the comic blockbuster and the animated film performed well. Netflix did well during this period too. However, the executives acknowledged Disney + ‘s success with their comments.
In early 2018, Netflix called games like Fortnite more competition than other streaming services. The company probably has a different opinion now.