Netflix shouldn’t be worried about streaming wars, Netflix investor Morris Mark said Tuesday ahead of the company’s fiscal earnings report.
Mark, CEO of Mark Asset Management, said Netflix can be forging its way inside entertainment industry as well as can be becoming a staple in household video bundles, while still allowing room for various other streaming services, such as Hulu or Amazon Prime.
Streaming incumbents have been facing threats This specific year as Disney, Apple as well as Comcast-owned NBCUniversal announced they are all entering the market.
“Look at the entertainment market much more broadly defined … Disney+ can be a drop inside bucket,” Mark told CNBC’s “Squawk on the Street,” adding that will the bundling of streaming services isn’t going to go away any time soon.
Disney announced last week the Nov. 12 Discharge date of its highly anticipated streaming service, which will allow consumers to stream by the Disney vault as well as watch brand new content. This specific comes as a “bargain” at $6.99 per month, said Mark, who also owns shares of Disney.
“I can’t think of a family that will has anybody under the age of 18 that will wouldn’t seriously consider subscribing to This specific,” he said.
nevertheless that will family-focused content may be what keeps Disney+ by beating Netflix, Mark as well as various other analysts have said.
“We do not view Disney+ as a strong alternative to Netflix,” Suntrust tech analyst Matthew Thornton said in a note April 12. “Bottom-line, Disney+ features family content, while Netflix offers a much broader range of content with the majority of the most-searched content on the platform.”
Consumers can still bet on Netflix. Mark recently bought more shares of the company, calling This specific the “single best managed entertainment technology company inside entire world.”
Netflix has been looking toward advancement This specific past year to ward off threats. This specific’s in talks to purchase the historic Egyptian Theatre in Hollywood to allow the company to more easily put up its Netflix originals for the Academy Awards. as well as in mid-January, the company announced This specific was raising prices between 13% as well as 18% as a way to pay for the creation of more original content.
“Netflix can be the future of film entertainment,” Mark said.