Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

NewsBreak: Netflix Sinks, CEO Says Upcoming Competition Will Be Tough

Published 09/20/2019, 11:05 AM
Updated 09/20/2019, 11:13 AM
© Reuters.

Investing.com - The streaming wars are headed to a screen near you and Netflix (NASDAQ:NFLX) CEO Reed Hastings just admitted it could be tough for his company.

  • “It’ll be tough competition,” Hastings told Variety in an interview on Friday. “Direct-to-consumer (customers) will have a lot of choice.”

  • A flurry of streaming services are expected in November, including Apple’s TV+, Disney + and NBCUniversal’s Peacock streaming service, not to mention already existing platforms Hulu and Amazon's (NASDAQ:AMZN) Prime Video.
  • Shares of Netflix (NASDAQ:NFLX) were down 4.7% in midday trade.

Latest comments

think of this as a non subscriber of any services and just pay cable where would nflx advertise to me their content ... Amazon can while I'm shopping for something there... CBS NBC Disney (abc, fox, freeform, ESPN, you get the idea Disney owns media) , att(HBO) all can on normal stations and do ... nflx has to pay them to advertise their if they do at all.... I can't honestly say I have ever seen an add for them though so other than like a few shows word of mouth why would I get their service? I think in the end the cable (internet) providers will win
NFLX should bottom out soon, before it starts going back up, good line up.
$ROKU got the short end of the stick.
Amazing.. for nifty goes high these days
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.