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7% Netflix viewers may cancel subscription after Disney+ launch

The direct-to-consumer platform of Walt Disney Co has been even touted as a “Netflix killer”.

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MUMBAI: After dominating the digital entertainment space for the last few years, Netflix’s reign is now being challenged by upcoming Disney+. The direct-to-consumer platform of Walt Disney Co has been even touted as a “Netflix killer”. However, a recent survey is showing that the new entrant will not pose a great threat to the Reed Hastings-led streamer after its debut.

According to a recent survey by Piper Jaffray, as few as 7 per cent of Netflix customers said they would cancel their subscription in favour of Disney+. 20 per cent of the respondents indicated that they would take up both subscriptions. The remaining 73 per cent they didn't plan to subscribe to Disney+ at all.

"We typically find that a larger percentage of subscribers say they will cancel certain services than the percentage that actually follow through on it, so the 7 per cent figure is likely overstating the risk to the Netflix US sub base," Piper Jaffray senior research analyst Michael Olson said.

The worst case scenario would lead to a loss of about 4.2 million customers of Netflix's 60 million US subscriber base and potentially $655 million annually in lost revenue for the streaming giant.

Moreover, Disney plans to launch its service at $6.99 per month or $69.99 per year which is an introductory price and that may increase over time.

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