Netflix lowers price for South Korea subscribers

Netflix lowers price for South Korea subscribers

Darren Sullivan
April 18, 2019

Disney announced during a presentation for investors on April 11, that the service will launch on November 12 in the United States with a monthly price of $6.99 - which is cheaper than competitors Netflix, Hulu and Amazon.

Update: According to CEO Reed Hastings in the interview video, Netflix is "just beginning to share" viewer numbers, and will lean into it more quarter-by-quarter.

Netflix says it doesn't expect the price increase to trigger significant cancellations, thought its second-quarter forecast implies otherwise. Walt Disney Co is bringing its biggest weapons to a new streaming service, including "Star Wars" and Marvel superheroes, in what is expected to be bruising war with Netflix and others for television dominance. Total revenue increased 22% year-on-year to $4.5 billion, while subscriber count grew 25% year-on-year. It might be a bit unfair to compare the two new subscription services, especially since neither is available yet and both seem to have been inspired by Netflix's interface.

Movies: Disney, Pixar, Star Wars, Marvel, family friendly 20th Century Fox movies.

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Martin said that in polling, United States customers say they plan to use only two or three streaming services and that as a result, any growth in Disney+ will significantly weaken Netflix.

Netflix said it is looking forward to a "strong slate of global content" in the second half of the year including the third series of The Crown, this time starring Oscar-winner Olivia Coleman as Queen Elizabeth II and Stranger Things. "After all, they are a tech company at heart and have enormous power with the data they capture on their millions of subscribers, which helps them design what original content to create". Despite being the leader in the industry, companies like Disney are setting up their own streaming services, which very likely will have an impact on Netflix's growth.

More than a quarter of Netflix open interest is due to expire in the wake of Tuesday afternoon's first-quarter release, with bullish calls outweighing bearish puts. But as we gleaned from the company's overhyped presentation last month, Apple had little to show us beyond those famous faces. The monthly payment for the basic plan is as low as 6,500 won ($5.70) when consumers limit the use of service to mobile devices. "Both companies are world class consumer brands and were excited to compete", said Netflix, adding that they do not anticipate the launch of Disney+ and Apple TV+ to materially affect growth.

"Shares did see meaningful volatility around earnings in the past, including double-digit moves following four of the eight quarters from 2016 through 2017, and options continue to price in the potential for outsized moves", Susquehanna International Group derivatives strategist Chris Jacobson said in an interview.