For the past few years, it feels like there’s been no shortage of streaming services to choose from. Since the streaming wars began, film lovers have wondered whether Netflix might finally be taken down a notch by its new competition…
The thing is, the competition is not even close.
And it shows.
With Netflix’s latest earnings report out, it’s plain to see that Netflix is still dominating the streaming business.
Netflix Is Bringing The Streaming Wars To An End
In 2023, Q4 was the second-best quarter on record for Netflix.
This record sits just behind Q1 in 2020 when the nation was on lockdown and people were looking for new things to watch at home.
In the past few months, Netflix welcomed 13 million new subscribers to its platform. What brought about this surge in new viewers?
NETFLIX FINALLY CRACKED DOWN ON PASSWORD-SHARING
While the executives are having a blast with the number of new subscribers…
They also recognize that the password-sharing surge is finally slowing down.
To top it all off, Netflix reportedly earned $8.8 billion in revenue and $1.5 billion in operating income. Not bad considering Netflix got their start in the movie business delivering DVDs.
Clearly, Netflix had a pretty good year…
But can the same be said for its fellow fighters in the streaming wars?
Other Streaming Platforms Are Feeling The Heat
With Netflix’s recent success, its competitors in the streaming wars are starting to feel more than a bit dismayed.
In fact, Disney, Paramount, Warner Bros., and NBCUniversal are all licensing general entertainment to their biggest competitor.
Even HBO is getting in on licensing to the streaming king. They recently struck a deal to have one of their most successful IPs, Sex And The City, on Netflix for the first time.
Netflix’s response? Welcome these licensing deals with open arms.
Co-CEO, Ted Sarandos, said on the call:
“I AM THRILLED THAT STUDIOS ARE MORE OPEN TO LICENSING AGAIN, AND THRILLED TO TELL THEM THAT WE ARE OPEN FOR BUSINESS,”
Needless to say, Netflix is enjoying its time back on the top of the streaming pecking order.
What’s Next For The Champion Of The Streaming Wars?
The executives at Netflix are making moves to make their platform even better for all of its subscribers, new and old.
Currently, their team is working on improving their selection of movies and series in their offering…
Taking full advantage of all their new licensing deals.
But in a shocking move, Netflix recently announced a blockbuster 10-year, $5 billion deal with WWE Raw, giving it a new home on the platform. This was a move that Netflix had been debating for a while and they finally pulled the trigger on it.
With Netflix’s recent successes where other services struggled, the streaming wars look like they’re just about decided.
Now, competitors have to decide whether theyre going to keep fighting…
Or if it’s time to raise their white flag.
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