Netflix loses more than 1 million subscribers to Disney+

Based on a new study by investment company Cowen & Co.

Netflix has already lost a whopping 1.1 million subscribers to Disney+, according to a recent analysis report.

The Hollywood Reporter has revealed that investment company Cowen & Co. based a report on a poll of 2,500 US consumers, and it revealed that 21% of participants signed up for Disney+, and 5.8% of Netflix users canceled their membership because of the new service. While there was still an 80% overlap of subscribers using Netflix and Disney+, the study revealed that Netflix may lose up to 1.6 million streamers in the fourth quarter of 2019.

Primarily, this is due to the launch of both Disney+ and Apple TV.

According to the report, Netflix is still on track to pass their goal this quarter, which is adding 7.6 million new subscribers.