June 28: Know your competitors
Your stiffest competition isn’t always a substitute for your exact product.
Source: Polygon
Published: January 2019
Know your competitors
Your stiffest competition isn’t always a substitute for your exact product. This is why movie streaming service Netflix uses “consumer screen time” as its most important metric, rather than other streaming services’ market share.
“We compete with (and lose to) Fortnite more than HBO,” Netflix explained in their 2018 earnings report.
In late 2018, Netflix had 139 million paid memberships compared to 200 million for Epic Games, an American video game designer and publisher.
Bonus: In April 2021, Netflix had 208 million paid memberships (source: Pymnts).
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