UK Markets closed

Netflix adds record number of subscribers despite competition from Apple, Amazon and Disney

Ben Chapman
1 / 2
Netflix adds record number of subscribers despite competition from Apple, Amazon and Disney

Netflix attracted a record 9.6 million new subscribers in the first three months of 2019, despite a rapid increase in competition from rivals including Amazon Prime, Hulu and now Apple.

The company now has 149 million subscribers around the world after its best quarter since it launched the video streaming service in 2007.

However, Netflix warned that its breakneck expansion could slow in the coming months as the race for subscribers heats up.

As well as Amazon and Apple, Netflix will be watching US telecoms conglomerate AT&T which owns Time Warner and is planning its own streaming service.

Disney, another heavyweight rival, took further control of streaming service Hulu last week, buying a stake from AT&T.

The increasing competition has seen Disney pull its own programming, including the Marvel television shows, from Netflix.

Disney has a huge back catalogue and plans to launch its own streaming service on 12 November in the US priced at $7 a month – about £5. Netflix packages in the UK start from £5.99 a month.

Apple launched its streaming service at a star-studded event last month.

The battle could be good news for streaming customers as companies spend ever-increasing sums on original content in a bid to win subscribers.

Netflix spent $12bn on its own shows in 2018 and is expected to increase that to $15bn this year.