Did You Miss This Valuable Info in Netflix's Latest Report?
Netflix (NASDAQ: NFLX) delivered a stellar fourth-quarter earnings report, with global paid subscriptions increasing by 8.5 million to reach 203 million total. While Netflix's breadth of content is a subscriber magnet, management acknowledged the recent success of rival services as a sign that the demand for streaming content has hit a new level following the pandemic.
In the earnings report, management didn't fail to acknowledge the success of Walt Disney (NYSE: DIS), which has emerged as its main rival over the last year. In fact, management spent quite of bit of time discussing the growth of Disney during the fourth-quarter conference call, as if they are excited to see competitors do so well.
As CEO Reed Hastings said during the call, the success of Disney "shows that members are interested and willing to pay more for more content because they're hungry for great stories."
Source Fool.com
