While it gained 2.7 million users globally, the figure was only just over half of the projected five million.
Its net income fell in the last quarter from $384 million this time last year to $270 million this year, though total revenue rose from $3.9 billion to $4.2 billion. Reed Hastings More Recently Netflix confirmed that it would be losing the Friends catalogue in the US , as well as The Office , two of its most-watched shows. Disney is also removing all of its content ahead of launching its own stand-alone streaming platform in November this year.
In January, it was reported that the studio will spend $15 billion on new content this year, having spent $12 billion last year. Fending off the likes of Disney and Apple with one hand while scooping in new customers with the other is a big ask,” he went on. Disney+ will feature the studio’s massive back catalogue of movies and TV series, as well as new content from the Marvel and Star Wars franchises, including Jon Favreau’s new show The Mandalorian .
Click here to read the full article