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Netflix faces new competition as old media companies flex their muscle

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Netflix CEO Reed Hastings is pictured on May 3, 2018 in Lille, northern France during the first edition of the TV Series Mania festival.

Philippe Huguen | AFP | Getty Images

Something strange is happening in the world of technology and media: Netflix is becoming the incumbent, and the upstart challengers are companies that have been around for nearly a century.

Disney, AT&T‘s WarnerMedia, and Comcast‘s NBCUniversal are all launching direct-to-consumer streaming services by the first quarter of 2020. And they’re all coming after Netflix.

Sure, there will be enough consumer dollars to go around for Netflix to keep its massive subscriber base, 155 million globally, growing. But there’s little…



Source cnbc.com

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