Netflix sees another stellar quarter
Video-streaming giant Netflix (NFLX) had yet another stellar quarter in 1Q18. The company added 7.4 million new subscribers, taking its tally up to 125 million. The company has been creating quality original content by attracting top producers such as Scandal and Grey’s Anatomy producer Shonda Rhimes and Glee creator Ryan Murphy.
The company, which now has a presence in 190 countries, has created quality original shows in local languages. Netflix has created original local shows such as Spanish thriller La casa de papel and German sci-fi horror drama Dark.
Disney may pose a threat to Netflix next year
Netflix is capitalizing on consumers’ ever-increasing hunger for binge-watching shows and movies over the Internet by investing heavily in creating and acquiring new content. As a result, its closest competitors, Amazon (AMZN) and Hulu, are trailing behind.
However, Disney (DIS) is planning on launching its own streaming service next year and will be removing its content from Netflix. Disney’s streaming service is likely to be Netflix’s closest competitor, especially if it is able to complete its acquisition of 21st Century Fox’s (FOX) assets. Netflix stock has surged by over 70.0% in 2018, and by the looks of it, the stock has still not peaked.