For all its flaws, Netflix doesn’t appear to be all that threatened by Disney’s new streaming service, at least according to one recent report. Baby Yoda be damned.
Armed with Star Wars IP and an upcoming Lizzie McGuire reboot, Disney Plus unsurprisingly roped in 10 million subscribers just one day after launching (with some analysts now estimating that number to be 24 million). However, according to a survey by Bank of America of more than 1,000 Americans, a majority (65%) of those surveyed believe Disney Plus is “not a good substitute for Netflix,” CNBC wrote on Wednesday. The bank found, of course, that not everyone agrees.
On the other end of the spectrum, 6.5% of the surveyed Americans who use both Netflix and Disney Plus say they now plan to quit Netflix, but there’s a caveat: The bank’s analysts wrote that they “are skeptical that much of this churn is incremental or will be realized.”
Meanwhile, another recent survey, this one from Cowen & Co., estimated that about 1 million additional customers will leave Netflix due to Disney Plus, but analysts there also said the departures appear to be “manageable” for Netflix, Variety reported.
For now, TV and movie streaming services appear to have more or less convinced Americans to consume them buffet style. And while it’s a pain to constantly navigate the ever-changing libraries of services like Netflix and Amazon Prime, at least it’s still a bit cheaper to pile a couple streaming services on your plate than it is to pay for cable TV.