There will be quite a few competitors for Netflix to deal with in the coming months. One of those is HBO Max, owned by AT&T. There was an unveiling event for HBO Max that was held recently. All of the various details of the streaming service were described to members of the media. This included the monthly prices and all of the shows that will be available on the service when it finally launches. HBO Max will cost $15. This is very significant because the most expensive tier for Netflix is currently only $13 per month. Cost is expected to be a major factor when consumers are trying to decide which streaming service they will pay month for each month.
The HBO Max unveiling caused shares of Netflix to go up by over four percent. This was a welcome change for Netflix shareholders who have seen the value of the stock go down in recent months. The main reason for the decline in the stock price is the fact that Disney and Apple with both be launching their streaming services in November. This is expected to deal a huge blow to the subscriber numbers for Netflix. It remains to be seen if that will be the case, reports Market Watch.
There are a number of positive things that should help to keep the Netflix stock price relatively high until the end of the year. First of all, the long-awaited movie “The Irishman” will finally be released in November. There will most likely be people who will sign up to the service just to see this film. It stars Robert De Niro, Joe Pesci and Al Pacino. It was directed by the great Martin Scorsese and is expected to garner multiple Oscar nominations. There is also the series called “The Witcher” starring Henry Cavill. It has been getting major hype and is thought to be the next “Game of Thrones.”
Despite the looming competition from huge companies, the stock price of Netflix has actually gone up by almost two percent over the past year. This is a major accomplishment when you consider how many Wall Street experts have been telling people to dump Netflix stock before the streaming wars really start to heat up. HBO Max will not launch until next year. 2020 will also see the launch of the Peacock streaming service owned by Comcast. Netflix recently secured $2 billion to create new content.
Dil Bole Oberoi
