Today, media streaming giant Netflix has posted its Q3 2019 earnings and added in a shareholder letter that they’re not too worried about the upcoming launch of Apple TV+.
Netflix’s earnings as reported by CNBC gave the NFLX stock a nice 9% boost in after-hours trading. The company will have serious competition in the form of Apple TV+, which launches November 1 and Disney+, slated to go live November 12.
Netflix says that although upcoming services Peacock, HBO Max, Apple TV+ and Disney+ have great titles, none can match the diversity, quality and variety of its original programming that’s produced around the world. Netflix stresses that entertainment is shifting to streaming TV and overall, NBC, Disney and Apple are helping in that regard.
It’s predicted that the world will turn from linear TV to streaming TV, and as such will turn to services like Netflix, Apple TV+ and others in this regard. Tim Cook has admitted the same in an interview the previous month.