to hit or slightly beat subscriber and financial targets when it reports third quarter 2019 results on Wednesday after market close.’s market-leading position once it’s facing big new rivals in Disney Plus and Apple TV Plus later in the year, and then WarnerMedia’s HBO Max and NBCUniversal’s Peacock in 2020.
Two schools of thought have emerged: In one, there’s room for many winners in the over-the-top subscription video game; in the other, the sentiment is that Netflix will definitely feel the pinch of deep-pocketed new competitors. “The ‘streaming wars’ narrative is false,” he wrote in an Oct. 13 note. Rather, “the primary loser remains traditional pay-TV and the basic bundle in the domestic market, while most emerging markets remain in early-adoption phase” vis-a-vis streaming.
“Consumers look at price/value – not relative to other services, because the content you want on Netflix is not available on those other services,” LightShed Partners’ Rich Greenfield wrote in an Oct. 11 note initiating Netflix coverage with a “buy” rating and a $375 per share 12-month price target. MoffettNathanson enlisted research firm HarrisX for a survey of 18,746 respondents between July-September 2019 about the U.S. SVOD landscape. For Q3, Netflix maintained the top spot — with 74% of all streaming consumers using Netflix, vs. 47% for Amazon Prime Video and 35% for Hulu.
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