Netflix warns price rises to hit subscriber growth

Disney+ Confirms Vision and Scarlet Witch, What If?, And More Marvel Shows

"Great competition makes you better", Netflix CEO Reed Hastings said on the earnings call.

Netflix ended the last quarter with 148.9 million paid subscribers globally, and remains the dominant paid streaming service. It would also represent a decline from the 5.9 million customers that the service picked up during the same period previous year.

But the company is less optimistic about growth for the second quarter. "Aside from pay TV, which is losing audience share, there are no other competing platforms that approach Netflix's reach".

The price hike could come as a monthly bump of £3 ($3) to customers of the premium plan and will affect people in the US, Brazil, Mexico and some parts of Europe - including the UK. As part of that report, they announced that they have added 1.74 million U.S. subscribers and 7.86 million worldwide subscribers.

Netflix is on the brink of 150 million subscribers.

Netflix says it is not anxious about Apple or Walt Disney as they prepare rival direct-to-consumer video services, likening the competition to cable TV in the 1980s-there's room for everyone.

"With a combined market cap of around $2.2 trillion, those three bruisers aren't to be messed with", Hargreaves Lansdown equity analyst George Salmon said.

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Disney's animated films including the classics such as "Snow White", "Cinderella", "Aladdin", "Beauty and the Beast", "Moana", and "The Little Mermaid" will all be available to stream when Disney+ launches.

Disney's stock has surged 12% since it unveiled the service last week, which will be priced below Netflix and include some of the world's most popular entertainment franchises.

According to sources agents for Disney+ in China and Korea are now negotiating with multiple TV brands including both premium and value TV manufactures to get the app on TV's by the November 2019 launch date. Now, many have made a decision to keep their content for their own services.

Rising costs are said to be as a result of covering the expenditure Netflix is pumping into producing its own original content. The aggressive spending has led to a tripling of the company's debt in two years, to $10.36 billion in 2018, from $3.36 billion in 2016.

Netflix bosses have promised to reveal more data around the viewership of its programming after reporting a 22% revenue rise for Q1, 2019. Revenues for the quarter topped $4.5bn and the company reported a profit of $344m.

"We're charging forward. We've expected this decline of second window content, been ready for it, anticipated it, and in fact we're eager to have more and more of our money be able to do spectacular new titles". "As these services proliferate, Netflix effectively becomes the only pure play service to address nearly all demographics and in that sense, its role becomes akin to a legacy broadcaster".

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