Survey Finds that Most Netflix Subscribers Won’t Leave for Disney or Apple

According to a Piper Jaffray survey, streaming giant Netflix may not have much to worry about when Apple and Disney launch their own streaming platforms.

“Our survey suggests that the majority (~75%) of Netflix subscribers do not intend to subscribe to either Disney+ or Apple TV+,” Piper Jaffray has said.

Shares of Netflix have been falling in the last three months but Piper Jaffray is still bullish on the company.

“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 had remarked.

“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.

The firm has an “overweight” rating on Netflix shares with a $440 price target. This price target represents a premium of over 60% of the company’s current share price.

“NFLX now trades at multi-year valuation lows, suggesting shares reflect much of the upcoming competition risk and periodic sub add volatility,” Olson explained.

Disney and Apple are launching new streaming video platforms in the next few weeks.

Disclaimer: We have no position in Netflix Inc. (NASDAQ: NFLX) and have not been compensated for this article.