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Netflix (NFLX) is the dominant company in the on-demand media business, with 167 million paying subscribers across the globe.1 By creating persuasive programming, assessing its consumer data to serve subscribers better, and above all by letting people consume content in the ways they favor, Netflix disrupted the television sector and forced cable companies to change how they do business.
It's certainly accelerated the trend towards cord-cutting. As of 2019, an estimated 21.9 million American families will have canceled their cable solutions, which was expected to reach 34.9 million by 2023. That left 86.5 million families still paying for cable tv in 2019, but this was forecast to decrease to 72.7 million by 2023.
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- Netflix has approximately 167 million paying clients worldwide.
- It's disrupted the tv programming model also, to an increasing extent, is doing exactly the exact same to the cable market.
- Netflix faces fierce competition from rivals such as Amazon, Google, and Disney.