Oct 16, 2019

Netflix warns of 'headwind' as new rivals appear

Netflix has warned investors that it faces "Headwind" in coming months, as rivals such as Apple and Disney launch competing services. "The fact that Netflix has shown disappointing growth without the new competition present, is a negative omen for Netflix in 2020 and beyond," he said. Netflix leaders said they remained confident of the firm's long-term prospects, noting that the firm has been competing against traditional television and firms such as Amazon and YouTube for years. "While the new competitors have some great titles, none have the variety, diversity and quality of new original programming that we are producing around the world," they wrote in a letter to shareholders. Total revenue rose to $5.25bn from about $4bn. "There may be some modest headwind to our near-term growth," Netflix said.

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