Netflix’s CEO Reed Hastings Aspires to Dominate in Family Animation as Well
This year has been very competitive for streaming businesses around the globe. Since most people are staying home, there has been an unprecedented surge in the paying subscribers of on-demand streaming services. HBO Max, which was released this year, got 4 million subscribers in just a month. Netflix, too registered an increase of 10 million subscribers in a single quarter. So, the stakes are high, and the CEO of Netflix recently made a statement that he aims to beat Disney in family animation.
The statement makes a lot of sense since family entertainment offerings perform well and bring in millions of views. Since children too are staying inside for the last few months, therefore it is the right to capitalize on this opportunity to make big profits. Movies like Kipo, She-ra, and the princess of power, Angry Birds, have been some massive hits for the company in the last few years. By adding more movies and shows, the company can ensure that they have a rich collection for all age groups.
HBO Max has seen similar trends on its platform as well. It was even reported earlier this year that Game of Thrones was less popular than Looney Toons Show on the streaming platform. Cartoons remained the most-watched on the app after Last Night Show, and the Warner Bros. This points to the fact that there is an enormous possibility in the world of children’s shows on streaming platforms. Disney, with a vast collection of movies and shows catering to children, already has a considerable advantage over any other streaming site. But even though other companies are lagging behind, they still can catch up since the iron is hot.
The opportunity is up for grabs, and Netflix knows this very well. With CEO Hastings’s message, it is clear what Netflix will look to do next. But it is not going to be easy. Because of the present conditions, they can’t produce Netflix Originals catering to children in a few months. They will have to acquire such shows, but that is where it gets tricky. Disney is the most famous producer of children’s shows and movies since it won’t let Netflix acquire its content; the company will have to look at other options. Although the chances are slim, there is still ample opportunity for Netflix to do well.
Netflix has had Midas touch so far, as they have been very successful in acquiring great shows, which has been the key reason for its success. It will need to pull off a miracle to outsmart Disney. Irrespective of the advantages Disney has as of now, anyone can take advantage of the opportunity and make huge profits. So, can Netflix dominate in family animation? Looking at what the company has achieved so far, they just might.
Source-CEO Reed Hastings Aspires to Dominate in Family Animation