SALT LAKE CITY — Netflix is losing customers, but not to HBO.
The company said in a letter to investors Thursday that “Fortnite,” the popular video game, is stealing more streams than HBO, according to Variety.
“We compete with (and lose to) ‘Fortnite’ more than HBO,” Netflix said in the letter. “There are thousands of competitors in this highly fragmented market vying to entertain consumers and low barriers to entry for those great experiences.”
Netflix only mentioned HBO as a competitor in that part of the letter. There was no mention of Hulu or Amazon Prime, which are often believed to be main competitors to Netflix.
Netflix added it’s not worried about traditional TV or movie programming services.
However: Netflix has a number of rivals. As Variety put it:Comment on this story
- “YouTube remains a significant rival in Netflix’s eyes. When YouTube suffered a global outage for about 90 minutes in October 2018, according to Netflix, it saw a spike in viewing as well as customer sign-ups.
- “Relative to YouTube, Hulu represents a small slice of viewing time, Netflix said. Hulu, which says it topped 25 million customers as of the end of 2018 and gained 8 million for the year, is 'successful in the U.S,’ Netflix allowed, but Hulu for now only offers service in the United States compared with Netflix’s global footprint.”
More: As Uproxx noted, Netflix isn’t concerned about Disney Plus or Amazon right now. Rather, the company hopes to improve its customer experience.
By the numbers: Netflix’s revenue hit $16 billion in 2018, according to Polygon. The company said it owns 10 percent of television screen time in the U.S.