Netflix Believes Their Combetiton Isn’t HBO, It’s ‘Fortnite’

With Netflix’s revenue hitting $16 billion in 2018, HBO’s parent company WarnerMedia and Disney preparing to launch their own streaming services, 2019 looks to be the most brutal year of “the streaming wars” yet.

But as far as Netflix is concerned, the competition extends beyond duking it out with the titans of Old Hollywood: This is a fight for eyeballs, and one of the fiercest competitors is, of all things in the streaming giant’s orbit, Epic Games. In a quarterly report released on Thursday, Netflix claimed that it competes for screen time with Fortnite.

In the report, Netflix discussed its penetration into overall screen time, which includes TVs and mobile devices that are used for television and movie viewing, video games, and more. Netflix said, “We earn consumer screen time, both mobile and television, away from a very broad set of competitors. We compete with (and lose to) ‘Fortnite’ more than HBO.”

By the end of 2018, Netflix claimed nearly 139 million paying memberships worldwide. Meanwhile, in November 2018, Epic reported that its blockbuster battle royale game commanded upwards of 200 million registered users.

“The fact that investors reacted negatively to what amounted to a strong performance indicates the extent to which Netflix has set a high bar,” said eMarketer media analyst Paul Verna. “The bottom line is that Netflix remains the uncontested leader in the subscription video space.”

Thursday’s announcement comes just two days after the streaming media titan flexed its pricing power, phasing in a U.S. subscription price hike over the next three months for existing subscribers. The new prices will become effective immediately for new subscribers.

The company reported a total of 393.3 million members worldwide.

The post Netflix Believes Their Combetiton Isn’t HBO, It’s ‘Fortnite’ appeared first on The Source.

Leave a comment

Your email address will not be published.