Netflix Lost Over a Million Subscribers to Disney+ in One Month According to Analyst

With more than a month behind us since the launch of Disney+, and the wins that the streaming service has achieved already tallied, the successes of The Walt Disney Company’s endeavour are becoming more clear. Even before Disney+ launched, it was never intended to fully replace Netflix in the streaming realm since both services offer things that the other simply can’t or won’t. As a result, there’s a place for both to exist, but according to new data that hasn’t stopped some from outright leaving Netflix behind.

In a new study done on the subscribers for Disney+ and Netflix, The Hollywood Reporter brings word that Cowen & Co., an investment bank and financial services company, has found that 19.4 million of the 24 million US subscribers for Disney+ also subscribe to Netflix, an “80 percent overlap” between the two. In the shadow of Disney+ though, a small minority of those surveyed ditched Netflix entirely, totaling just 5.8% or an estimated 1.1 million subscribers.

To add further context, the study estimates Netflix lost a total of 1.6 million subscribers in the fourth quarter of 2019, meaning 69% of that loss came directly from the launch of Disney+. Despite that loss, Netflix will reportedly still gain 7.6 million subscribers or more in the same time. This dip hasn’t worried Netflix or the developers of the customer survey, who wrote that a drop was expected in Netflix subscribers thanks to the Disney+ launch anyway but that it will be a manageable in the long run.

When it comes to what people are watching on Disney+, another study has shed light on that. Disney Classics are the biggest draw currently on the service, as 22% of subscribers included in the poll said they were watching Disney Classics the most on the new service, which edged out Star Wars by a 1% margin.

Star Wars came in second with 21% with Marvel a distant third at 15%, followed closely by Pixar at 14%. After that it’s Disney Channel content at 9%, followed by National Geographic at 3% and finally Disney+ Originals at 2%.

What are you watching most on Disney+? Did you cancel your Netflix subscription after you signed up? Let us know in the comments! If you haven’t signed up for Disney+ yet, you can try it out here.

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