Unless you’ve been living under a rock in recent weeks, you’ll know that Netflix is having a tough time.
Much to the chagrin of investors, the world’s biggest streaming service lost 200,000 paying customers between January and March of this year – a figure that’s expected to exceed two million come the end of June. If the trend continues, analysts predict that Disney Plus will overtake Netflix to become the most popular streaming service by 2024.
But why is Disney’s streamer flying where Netflix is falling? Company CEO Reed Hastings has blamed the latter’s decline on increased competition and a failure to crack down on password sharing, while Netflix subscribers have called out the streamer’s waning content quality and so-called woke agenda.