With more than 10 million consumers signing up for Disney+ at launch, Netflix has yet to feel an impact.
That’s from a Bloomberg report, which cites an unnamed Netflix source as saying there has been no uptick in Netflix subscriber cancellations, per company metrics.
The news is pertinent to investors. Netflix stock has dropped 15% since July, with Wall Street concerned that the No. 1 streaming service’s growth will be impaired by not only the launch of Disney+, as well as Apple TV+, HBO Max and Peacock.
Netflix CEO Reed Hastings has said there is room for both the $6.99-a-month Disney+ service and Netflix, which is priced at $12.99 a month for its most popular tier.
The launch of Disney+ has been nothing short of a phenomenon, with the service’s first flagship original show, Star Wars franchise show The Mandalorian, ranking as the top show on U.S. television during its first week, according to data gathered by Parrot Analytics.