Ever since the announcement of Disney Plus, industry experts and consumers alike have questioned whether the launch of the streaming service would signal the end of Netflix’s reign at the top of the industry. Now new data reveals that Netflix has received its first big hit, as over 1 million subscribers have moved over to the new platform.
Analytics firm Cowen & Co have published a report which reveals over 1.1 million subscribers have left Netflix in favour of Disney Plus – even with the new platform only being active for around a month.
According to a poll, 24 million people in the US have subscribed to Disney+ since the platform launched, and 5.8% of Netflix users cancelled their subscriptions in order to try out content on the new streamer instead.
Streaming service users have been aware of big changes for the last few years, as Disney has been pulling its movies from Netflix for a while now as it reclaims its content for the platform once licensing deals end.
The new platform has exceeded Wall Street forecasts for subscribers, as over 10 million signed up for the service in its first day – which blows their estimates of 20 million by year-end out of the water.
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