Netflix’s stock will remain unfazed as Apple TV+ makes its debut next months, according to an investor survey report.
Independent investment bank Piper Jaffray said in the note that it was optimistic about Netflix’s stock forecast, even though the streaming giant’s shares have dramatically fallen in the past three months. CNBC reported that investors are worried that this will dip further with new entrants and slower subscriber growth.
“Our survey suggests that the majority (75 percent) of Netflix subscribers do not intend to subscribe to either Disney+ or Apple TV+. For those that do expect to use one of these offerings, the vast majority expect to also maintain their Netflix subscription,” Piper Jaffray analyst Michael Olson said in the note.
Disney and Apple are both launching their streaming services in November, but the survey of about 1,500 Netflix subscribers said they had no plans to leave the service for Disney+ or Apple TV+.
“Most existing Netflix subscribers appear to be trending towards multiple streaming video subscriptions, especially as many continue to reduce their spend on traditional TV offerings,” Olson said, according to CNBC.
In Canada, Apple TV+ will launch on November 1st, while Disney+ will launch on November 12th.