REUTERS: Netflix Inc added more paying subscribers than Wall Street expected in the fourth quarter as it faced new competition from lower-cost services from Walt Disney Co and Apple Inc for the first time in the streaming video wars.
Netflix has had an outsized impact on the pay TV landscape, changing the way that people consume TV and film and forcing media and tech companies to shift their business models. As streaming video has grown in the United States, the market has become more competitive, pushing Netflix to look overseas for growth.
The addition of new streaming platforms - taking more out of a household’s monthly entertainment budget - has also made it harder for Netflix to raise prices, as it did in the United States last year.
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