Netflix co-founder says Disney+ success 'extremely impressive'
Streaming companies should be 'scared' by Disney+, Marc Randolph says
Netflix co-founder Marc Randolph tells FOX Business' "Varney & Co." that Disney+'s growth, since its launch, is "extremely impressive" and all of the other streaming companies should be "scared" of its prominence.
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Marc Randolph: "I'm really impressed with what Disney has done so far. I mean, what are they, 16 months in and they've just exceeded 100 million subscribers. It's extremely impressive. And even more impressive is the velocity. At their investor day, which was not too long ago, they had 86 million. So 14 million subscribers. It took Netflix 10 years to get their first 14 million subscribers. And Disney's done it in just over two months.
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The one big difference, of course, is that approximately a third of Disney subscribers are in a single country. It's the hot star in India. And even if you look out at where the forecast goes three years from now, they show that Disney is going to be larger than Netflix in one country, India. But Netflix will still be larger than India in another 195 countries. So this is not quite the way it sounds in the report. And of course, fundamentally, the most important thing that Disney has to do is demonstrate that they can make money from their subscribers. You know, as we've mentioned before, that right now about a $4 average revenue per user and Netflix is just about $10. It'll take a while for them to bring those numbers up.
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It is not Netflix that necessarily should be scared by Disney's prominence. It's all of the other streaming companies. I mean, right now with Paramount Plus coming in a few weeks ago. Now, every single major media company is in a streaming business, and right now we're all sampling. But I promise you, there is going to be a musical chairs moment and there is not going to be chairs for everybody. And I think what consumers are going to do is have their Marie Kondo moment where they really ask themselves, is this service bringing me joy? And if it's not, they're going to dump it. And I certainly think that.. Netflix and Disney are both going to be left standing. And I wonder who else will be joining them."
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