Netflix brushed off threats of competition from Apple and Disney on Tuesday even as it predicted its global subscriber base will grow at a slower pace next quarter.
“We don’t anticipate that these new entrants will materially affect our growth because the transition from linear to on-demand entertainment is so massive and because of the differing nature of our content offerings,” Netflix boss Reed Hastings told investors during an earnings call.
“We believe there is vast demand for watching great TV and movies and Netflix only satisfies a small portion of that demand,” he said.
Netflix’s dominance in streaming TV and movies has been challenged twice in recent weeks — first by Apple and then Disney. Both companies plan to launch streaming video services later this year to compete with Netflix.