Netflix said it added 2.7 million new subscribers worldwide in the April-June period, well below expectations, as the sector prepared for offerings from rival groups including Walt Disney, Apple and others.
“I think our position is excellent,” Netflix chief executive Reed Hastings said in an earnings presentation.Hastings maintained that while there may be a streaming television war going on, the market is so vast that rival services can thrive. He quipped that many Netflix employees are fans of HBO shows.
Subscriber growth reignited in the opening weeks of the current quarter, with the release of the latest season of blockbuster original series “Stranger Things,” according to executives. Netflix will be losing some of its hit shows such as “Friends” to rival platforms being launched in the coming months but argued that it will make up for that with original content.
WarnerMedia will launch its new Netflix rival “HBO Max” in early 2020 after reclaiming the rights to stream its popular television comedy “Friends,” the company said Tuesday.
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