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Netflix embracing competition

Netflix has told investors it is embracing competition.

The streaming platform giant is competing with the likes of Amazon Prime and Now TV - with Disney+ and Apple+ moving into the game over the next few months - but bosses aren't concerned about other companies taking away any subscribers.

Writing to investors this week, Netflix said: "Just like the evolution from broadcast TV to cable, these once-in-a-generation changes are very large and open up big, new opportunities for many players.

"For example, for the first few decades of cable, networks like TBS, USA, ESPN, MTV and Discovery didn't take much audience share from each other, but instead, they collectively took audience share from broadcast viewing."

The platform has continued its growth in Canada and the US at a steady rate over the past six years, despite the latter having the only significant competition in Hulu.

Netflix added: "While the new competitors have some great titles (especially catalog titles), none have the variety, diversity and quality of new original programming that we are producing around the world."

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