Netflix dethrones Foxtel and becomes the uncrowned king of the streaming industry in Australia.
Netflix, Inc. is the largest provider of online video content services in the world. The company has expanded its business and services to more than 50 countries and now surpasses 60 million subscribers; Australia, Cuba, and New Zealand are the latest additions.
The company made a very strong entry in the Australian market by offering the same catalog to them as it did to the US users. Furthermore, Netflix in Australia is slightly cheaper than any other country. Therefore, the streaming giant is doing all it can to give tough competition to its competitors.
According to recent research data leaks, it is believed that the company is the best out there in Australia. It has exceeded beyond all peers and competitors, which include Foxtel, Presto, Stan, etc. The data shows that it is well ahead of these competitors based on daily and online visits for streaming video platforms. According to The Australian, Netflix has doubled the daily visits on its platform, becoming one of the favored and popular Australian streaming services in a short span of time.
It is believed that the company ‘leapt’ to market dominance on March 24, as it reported that it had more than 475,000 visits on its website. The data shows that it is the sole dominator in the market, as competitors have a lot to catch up when it comes to daily traffic and Subscriber Video on Demand (SVOD) content. Steve Allen stated, “Their growth in the space of one month has been staggering, buoyed by a significant existing customer base accessing the service via VPN services, free monthly offering, and significant public attention.”
Moreover, Netflix has dethroned Foxtel by becoming the most preferred option to stream online video contents among Australian users. Hence, the company has left competitors in its wake, as it already has more than 39% of the paid video subscription market in its hand; whereas, Foxtel lost a 10% share in the same market since the arrival of Netflix. Mr. Allen added, “I think they are really in their honeymoon period and that will last until quarter three this year and then you will start to see a lessening of growth.”
Previously, it was believed that Netflix is here to cut the cord but it is complicating the business of online rivals as well by succeeding every market it enters and for that matter, it has become the uncrowned king of the region so far.