Analyst: Netflix lost 1 million subscribers to Disney+

National and World

Only weeks into its launch, a poll finds Disney-Plus grabbed 24 million subscribers

Netflix is getting stiff competition from upstart Disney-Plus.

(CNN) – Netflix is in a fight with the new kid on the block.

The popular streaming service with the red letter logo is getting stiff competition from upstart Disney+.

Analytics firm Cowen and Company found that in barely one month’s time, Netflix lost more than a million subscribers to Disney.

Only weeks into its launch, a poll finds Disney+ grabbed 24 million subscribers.

Wall Street predicted more than 20 million by the end of this year.

On the flip side, data shows nearly 6% of Netflix users canceled to make the switch.

It was two years ago that Disney began the process of pulling its movies off Netflix to fortify its own streaming service.

One Wall Street analyst believes with current pricing, Netflix will lose four million subscriptions next year.

That analyst’s suggestion — offer a cheaper pricing option that has a few minutes of advertising per hour.

Still, the new report hints that at least a third of subscription cancelations would happen anyway, regardless of Disney.

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