Netflix collapses on the stock market due to the threat of Disney and Apple

This could be the fall of Netflix discontent. Reed Hastings, CEO and co-founder of the platform that has so far clearly dominated the streaming market, has admitted for the first time that the emergence of Disney and Apple in the sector will completely change the landscape in a short time.

In an interview with Variety magazine, Hastings, he said there will be "tough competition" when Disney + and Apple TV + start operating in November this year. His words, coupled with a report on the difficulties of the platform to attract new clients internationally, caused a collapse of their titles. Half a day they left 6%, more than 2,000 million dollars in a single session.

Hastings believes that from now on customers will have a lot to choose from, a situation they plan to fight with more investment in original content, the strategy that has led them to lead the market with series turned into global phenomena such as Stranger Things or the Spanish house of paper.

He also believes that competition from giants like Disney and Apple will cause an increase in production costs. The war in that department is also fierce. Netflix announced that it is working in a new production center outside London, Shepperton Studios, while Disney did the same when signing a contract with Pinewood Studios.

"Someday, The Crown (one of his most expensive productions) will look like a bargain," Hastings said in the interview. He also clarified that they intend to remain true to their style despite the different strategies of their competitors. They have no plans to enter the world of live television, offering sports as Amazon Prime Video does , its main rival to date.

"Although we have been competing with many people in the last decade, it will be a new world from November," he said. "Between Apple premiering and Disney premiering and, of course, Amazon improving ...". To all this we must add the bad results of the last quarter, when they lost customers in the United States and stayed away from the 5 million subscribers who were waiting on Wall Street. In total, they added 2.7 million customers worldwide, overcoming the 150 million barrier .

As for the Evercore report , it indicates that the download rate of the Netflix application has been reduced by 76% and that the growth over last year is only 5%, far from the 21% reflected in the graphs in July and August. Netflix seems to be missing momentum in full transition of the streaming world.

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