Not all streaming services will survive the streaming wars, predicts Bob Iger. The former Disney CEO oversaw the development of the company’s subscription VOD service Disney+, which launched in November 2019 at an original cost of $6.99 per month, undercutting chief rival Netflix. As Disney continues its expansion into the streaming space under Iger’s successor, Bob Chapek, the company has amassed more than 152 million total global users (including Disney+ Hotstar) to Netflix’s 221.6 million. Both streamers will soon launch ad-supported subscription tiers for the first time, bringing advertisements to the previously ad-free Disney+ and Netflix.
During an appearance at Vox Media’s Code Conference (via THR), Iger predicted Marvel and Star Wars streamer Disney+, as well as Stranger Things streamer Netflix, will continue to dominate in terms of longevity and paid subscribers.
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The former Disney executive also namedApple TV+ (Ted Lasso, Severance) and Amazon’s Prime Video (The Boys, The Lord of the Rings: Rings of Power) as two services that would continue to grow, but did not dole out praise for Warner Bros. Discovery’s soon-to-merge HBO Max and Discovery+ despite the record-breaking success of HBO’s Game of Thrones spinoff House of the Dragon.
“I believe that Netflix is going to continue to thrive. They have some issues now, but they’re not going away,” said Iger, adding he’s “clearly a big believer” in Disney+ due to its robust subscriber base and brands like Disney, Pixar, Marvel, Star Wars, and National Geographic.
Iger noted he was “surprised” by the speed Apple and Amazon achieved success in the streaming space — both are home to critically-acclaimed, fan-favorite content — but said both companies had a competitive edge in technology and their business outside of streamed entertainment.
“They’re not primary businesses for them and they’re measured, probably, by different standards in terms of bottom line, and they serve other purposes in those companies,” Iger said. “But they’re not going to stand pat. They’re going to continue to grow and they’ll grow well. They’ve got deep pockets. They’ve got great access to consumers. They have strong technology platforms. They’ve proven they know how to do it. So they stay.”
Iger did not name competing streamers like Paramount Global’s Paramount+ (total 63.7m globally), NBCUniversal’s Peacock (28m), the Disney and Comcast co-owned Hulu (46.2m), or WBD’s HBO Max (76.8m). Speaking on the crowded streaming business, Iger predicted, “They’ve got some tough hands, and it takes a lot of capital to be in that business. I don’t think they’ll all make it.”
