Disney+ Reportedly Caused 1 Million People to Cancel Their Netflix Accounts

Disney+ Reportedly Caused 1 Million People to Cancel Their Netflix Accounts
Netflix is, of course, still killing it as a streaming service, but its days as a lone titan are numbered as every major corporation plans to let loose a service of their own. In November, Disney+ entered the arena, and it reportedly offered a major blow to Netflix's dominance.

According to a report from Cowen & Co [via Variety], 24 million people have subscribed to Disney+ since it launched last month. More interestingly, an estimated 1 million American Netflix subscribers cancelled their subscriptions to sign up with Disney instead.

An estimated 5.1 million Netflix subscribers are expected to ditch the service in Q4 of 2019, but the analysts suggest that "appears manageable" for the streaming service.

"The incremental churn uptick [for Netflix] appears reasonable given the Disney+ launch, which has been highly publicized and includes various marketing programs, including a Verizon promotion that offers Disney+ for free for one year," they wrote.

As for Canadian Netflix, recent reports indicated that there were 6.5 million subscribers in Canada as of September 2019. Whether or not Disney+ affected those numbers is yet to be seen.