Tech

“We compete with Fortnite more than HBO,” Says Netflix In A Shareholder Letter

Fortnite is the most popular game in the video game industry right now. With over 200 million players across all platforms, there is no doubt about the same. Just when you thought the game industry was the only one facing competition from Fortnite, Netflix says they’re facing it as well. Netflix released its quarterly earnings report yesterday mentioning that it accounts for 10 percent of  TV screen time in the US. However, streaming and TV content providers are not its only competitors.

Netflix losing out to Fortnite- Wait, What!

As Tech Crunch reports, Netflix’s shareholder letter stated, “We compete with (and lose to) ‘Fortnite more than HBO. When YouTube went down globally for a few minutes in October, our viewing and signups spiked for that time. There are thousands of competitors in this highly-fragmented market vying to entertain consumers and low barriers to entry for those with great experiences.”

What Netflix meant is that any service which provides entertainment, is a competitor for them. That is because it takes up the free time of its viewers. And, to no surprise, Fortnite is a big competitor for them as well.

Netflix CEO Reed Hastings further added “I think about it really is as winning time away, entertainment time from other activities. So, instead of doing Xbox or Fortnite or YouTube or HBO or a long list, we want to win and provide a better experience. No advertising on demand. Incredible content”.

The versatility and accessibility of games like Fortnite is posing to be the turning point for the entertainment industry. People are looking forward to these games as ways to interact with friends and socialize with people. And, as a result, there are no longer just a means of entertainment. Plus the availability of Fortnite and PUBG on mobile has been more of a turning point for these games. Considering all these, it is pretty much evident that Netflix, or even other entertainment service providers in the future face competition from the gaming industry.


Leave a Reply

Your email address will not be published.

Close