Netflix dominated ultra-woke Disney in 2023

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To close out 2023, Netflix’s streaming service came out on top of the streaming wars as the only company to add more new subscribers than it did last year and added more than $70 billion to its market cap. 

According to The Guardian, Netflix will end the year with about 100 million more subscribers than Disney, which has reportedly lost $11 billion in the streaming market. 

Head of television at Enders Analysis, Tom Harrington, told the outlet, “There is Netflix and then there is sort of everyone else.” He added, “Everyone except Netflix is making losses quarter by quarter. While Netflix hasn’t of course yet balanced its billions in losses it is now making profits and will catch that up pretty quickly now.”

During the COVID-19 pandemic streaming services boomed, while more people were staying home. Netflix peaked in 2021, then took a hit in 2022 after it reported that it lost subscribers for the first time in over 10 years. 

“Last year was hard, a tough year, but 2023 has been really strong,” Netflix vice-president and head of content for EMEA, Larry Tanz said. “First and foremost content drives the business but we also did a couple of things that were really difficult.” 

He noted that the service executed “a paid sharing [crackdown] and the introduction of advertising.” He added, “Big things to take on in one year which are also proving to be meaningful drivers of the business.”

Disney+ was launched in November 2019, just months before the COVID-19 government lockdowns went into effect where the service found great success. Disney recently announced that it would begin licensing some of its content so that Netflix. 

Apart from its streaming service, Disney has seen revenue greatly impacted in other areas. Earlier this month, X CEO Elon Musk publicly told Disney CEO Bob Eiger to “Go f*ck yourself” after the company led an advertiser boycott on the social media platform.

In a November filing with the SEC, Disney admitted that they were out of step with their audience when it came to its efforts to achieve certain “environmental and social goals.” 

“Generally, our revenues and profitability are adversely impacted when our entertainment offerings and products, as well as our methods to make our offerings and products available to consumers, do not achieve sufficient consumer acceptance,” The filing said. 

Eiger previously left the company but made a comeback in November 2022, to get the brand back on track. 

Source
Las Vegas News Magazine

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