When discussing Netflix's competitors, many might point to streaming giants like Amazon Prime, Disney+, or other Video on Demand (VOD) platforms that let viewers select content according to their preferences. Others might highlight illegal streaming sites, questioning the need for a subscription when pirated movies are just a click away. Interestingly, some might argue that Netflix could be its own worst enemy.
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In a surprising twist, Netflix has identified Fortnite as its biggest competitor. During a 2019 announcement to investors, the streaming service revealed that the popular online game by Epic Games poses a significant challenge to its leading position in the VOD market. You might already know that Fortnite invested heavily in promoting the highest-grossing film ever, Avengers: Endgame, and it was also the chosen platform for Christopher Nolan to debut the trailer for his blockbuster TENET.
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You may be thinking, "How can Fortnite be considered a competitor to Netflix?" After all, one offers games, and the other provides movies - how do they overlap? While it's true that Netflix's direct competition lies with other VOD platforms like Disney+ and Amazon Prime, which target the same audience, Fortnite represents a different kind of competition. Both platforms are vying for user attention, and time spent playing Fortnite directly translates to less time available for watching Netflix content.
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In a broader context, Amazon Prime and Disney+ compete with Netflix on a brand level within the VOD sector. Pirated films pose a threat at the industry level of film distribution. However, Fortnite exemplifies competition at the demand level, as both platforms aim to fulfill consumer entertainment needs. This understanding of competition dynamics could be crucial for future strategies.
Perhaps that's why Netflix has brought Mike Verdu, former head of VR content at Facebook, on board as president of their game development division. It signals exciting developments on the horizon for Netflix as they expand their entertainment offerings.
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