Netflix reportedly wasn't hurt by Disney+ launch

(Image credit: CHRIS DELMAS/AFP via Getty Images)

So far at least, it looks like entertainment lovers are down to make room for both Netflix and Disney+ in their hearts and their budget.

The number of customers axing their Netflix subscriptions did not accelerate in the wake of the Disney streaming service's emergence onto the market, even though Disney+ outperformed expectations when reeling in initial subscribers, a person familiar with the matter told Bloomberg on the condition of anonymity. Netflix declined to comment since they generally keep their subscription "churn" under wraps, but external data from Google searches and market tracker Sensor Tower have backed up the info, Bloomberg reports.

Netflix has maintained there will be room for multiple competitors in the streaming market, especially as customers continue to drift away from cable. It's way too early to tell if the numbers will hold long term, but it's a good start for the company. Still, Bloomberg notes that Netflix investors have reason to be at least a little bit concerned after adding fewer customers than it forecast in the past two quarters, though it's unclear if that's correlated to the coming wave of streaming services. Read more at Bloomberg.

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Tim is a staff writer at The Week and has contributed to Bedford and Bowery and The New York Transatlantic. He is a graduate of Occidental College and NYU's journalism school. Tim enjoys writing about baseball, Europe, and extinct megafauna. He lives in New York City.