Netflix forecasts tough start to 2020; Disney+ going global

- Netflix Inc has entered a new year that will be far tougher than the one it left behind.

Rivals including Walt Disney Co and Apple Inc are now fighting for streaming customers, and Netflix said it expects to add 7 million subscribers globally in the first quarter, below analysts’ average of 8.82 million, according to IBES data from Refinitiv. Netflix Chief Executive Officer Reed Hastings described the fourth quarter’s 8.76 million net subscriber growth - boosted by a new season of royal drama “The Crown” and two films nominated for Best Picture Oscars - as “just amazing.”

As such, the company has invested heavily in non-English language content, and this quarter began releasing revenue and subscriber numbers by region for the first time. It added 1.75 million subscribers in Asia-Pacific, its fastest-growing region, while Latin America grew by 2.04 million subscribers in the quarter.

“The streaming service’s massive content and marketing budget can only be justified if the company is adding more subscribers at a robust rate. If that doesn’t materialize, then its stock price will reflect that reality,” wrote Haris Anwar, an analyst at investing.com. FILE PHOTO: The Netflix logo is shown in this illustration photograph in Encinitas, California October 14, 2014. REUTERS/Mike Blake/File Photo

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