It is estimated that Netflix will have lost 1.6m total subscribers during Q4 of 2019, a period during which both Disney Plus and Apple TV Plus launched.
Netflix has released the figures for three years of revenue and subscription, according to which the OTT platform emphasised its surge in growth internationally.
According to the report published by Cowen & Co, more than half of Netflix’s 158m global subscribers and 90% of its growth is coming from outside the US.
Europe, the Middle East and Africa [EMEA] has seen a 140% increase in subscribers and 196% in revenue from Q1 of 2017 to Q3 of 2019. Despite being a new player in the Asia-Pacific (APAC) market with fewer than 15m subscribers, Netflix’s subscriber numbers have jumped 211% in members and revenue climbed 229% since 2017.
However, Netflix has also lost customers to the Disney Plus and Apple TV Plus, both of which launched last month. The streaming platform has already lost a whopping 1.1m subscribers to Disney+, according to the report. According to Disney, its streaming service had 10m signups on its first day.
Based on a poll of 2,500 US consumers, it was revealed that 21% of participants signed up for Disney Plus, and 5.8% of Netflix users cancelled their membership because of the new service.
The study also revealed that 19.4m respondents were dual subscribers, indicating that there was an 80% overlap between the services’ customer bases.
According to the report, Netflix is still on track to meet its goal this quarter, which is adding 7.6m new subscribers despite the launch of other streaming services.