Disney+ Failing To Hurt Netflix As Streamers Buy Both
As analysts watch closely for defections from Netflix following the launch of Disney + internal analysis of Netflix subscribers reveal very few have quit the US streaming service.
Some analysts claim that consumers appear to be paying for both services.
Internal data at Netflix suggests the streaming giant hasn’t been hurt yet by the launch of the rival service.
Insiders claim that the number of customers cancelling Netflix hasn’t accelerated around the debut of the Walt Disney Company offering which has been plagued by problems, complaining customers and a dodgy subscription problem.
Last week it was revealed that subscriptions to the new Disney + service were being sold in underground hacking forums; Disney claims it’s a direct result of previous breaches at other companies.
The company claims that they have found no evidence of a security breach and that account problems are limited to “a very small percentage of users”.
ZDNet found stolen account usernames and passwords selling for $3 on underground hacking forums.
Paul Rohmeyer, a professor at the Stevens Institute of Technology in Hoboken, New Jersey, said he’s surprised that streaming services haven’t yet implemented better security such as multi-factor authentication.
Despite the hick up, millions are signing on in the USA and Australia where the service has already been launched.
According to Bloomberg, external data from Google searches and market tracker Sensor Tower have corroborated the idea that Netflix is holding its ground, according to Credit Suisse Group AG. But those measures are more focused on whether the company is still attracting new customers, rather than losing the ones it already has.
Netflix shares climbed as much as 1.3% to $314.40 in late trading on Friday, rebounding from an earlier decline. The stock is up 16% this year through the close.
Netflix argues that there’s room for many competitors, and the success of new rivals won’t be at its expense.