Even the HBO network, now part of AT&T Inc’s media-and-telecom empire, is frequently touted as one of Netflix Inc’s biggest foes. Both companies are vying for TV subscribers, and they are frequent rivals in award competitions, such as the Emmys. HBO plans to boost its programming budget in an attempt to lure more viewers.
“We earn consumer display time, both television and mobile, from a very extensive set of competitors,” Netflix said in the letter. “We contend with (and lose to) Fortnite more than HBO… There are thousands of opponents in this highly fragmented market vying to entertain consumers.”
Netflix’s choice to name-check Fortnite reflects the match’s ever-growing recognition. It boasts over 200 million registered customers, and some 80 million logs into play every month, based on writer Epic Games. Thanks to an engaging combination of reward mechanics, social communication and ease of entry – the game’s competitive manner is free to play Fortnite soared to new heights last year, assisting Epic to make a reported $3 billion in profit.
“We contend with (and lose to) Fortnite more than HBO,” Netflix stated in a letter to shareholders Thursday. “There are thousands of competitors in this highly fragmented market vying to entertain consumers.”
AT&T plans to make HBO an anchor for a set of new streaming services, Chief Executive Officer Randall Stephenson has said. A trio of platforms is expected to arrive later this year, with different costs and features.