Fortnite a bigger threat to Netflix than HBO
The movie-streaming service is competing for screen time with the popular video game
HBO and Disney are launching their own movie-streaming service, which should be of great concern to Netflix. However, the first major company to allow viewers to watch movies from virtually anywhere an Internet connection is available has determined that its biggest threat is neither of these two powerhouses. Instead, Netflix is feeling threatened by something found in a completely different field – video games. The company states that it is concerned about the success of Fortnite and believes that it could steal a lot of its business.
When Netflix recently published its financial results for the fourth quarter, it added some details about its competition. At the top of the charts is Fortnite, which is gaining screen time against the movie giant and causing a growing number of flick fans to forego the tube in favor of the video game. Netflix stated, “We compete with (and lose to) Fortnite more than HBO. There are thousands of competitors in this highly fragmented market vying to entertain consumers… Our growth is based on how good our experience is, compared to all the other screen time experiences from which consumers choose.”
The video gaming industry has picked up a lot of steam in the past several years. Technology has evolved dramatically, giving gamers the ability to play a wide range of titles that are lifelike and realistic, making them forget about movies. It has become such a competitive market that many video game developers won’t release new titles on the same day, for example, that Netflix is scheduled to introduce a new movie.
The race is on to see who will win the screen time competition. Will it be the movie industry, or video games?