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Netflix, Inc. (NFLX) Continues Efforts to Counter Competition in Streaming

Per media reports, Netflix, Inc. (NASDAQ:NFLX) announced a new initiative at the 2017 APEX Expo to offer mobile encoding technology to airline carriers globally. The company claims that by using the technology, airlines will be able to reduce their bandwidth cost by about 75%. It hopes to strike new partnerships with the airlines in 2018. The technology will also provide passengers with high quality videos.

Netflix, Inc. (NFLX) Continues Efforts to Counter Competition in Streaming

Source: Shutterstock

Per Variety, the company already has deals with airline carriers such as Virgin America, Aeromexico, Qantas and Virgin Australia to provide free Wi-Fi on certain planes. Moreover, Gogo Inc (NASDAQ:GOGO), the leading provider of in-flight connectivity solutions, and Netflix also work together to provide video streaming services to in-flight passengers. We believe fulfillment of Gogo’s commitment to launch onboard 4G service bodes well for Netflix as it will help both the companies gain traction in the market.

Reportedly, the streaming giant enjoys a competitive edge in this segment.

Expanding its Reach

We have seen that Netflix’s applications for both Android and Apple devices have helped it expand its market share. Netflix subscribers can stream any movie or show of their choice through these devices. Comcast has made the Netflix app available on its X1 platform, featuring voice controls and search results, among other things. The company had earlier introduced HD video and AirPlay Streaming on these devices. Moreover, other devices such as handheld gaming consoles are also being targeted by the company to reach a wider audience.

Netflix has a solid portfolio of original content. Further, the company is taking a number of initiatives to establish itself as a leading content provider. The recent Emmy Award wins reflect the growing popularity of Netflix.

The strength in content portfolio and the availability of Netflix across so many devices will help the company to add more subscribers across the globe.

However, the company faces competition from established players like Amazon.com, Inc. (NASDAQ:AMZN) Prime, Hulu and Time Warner Inc’s (NYSE:TWX) HBO, which also offer online streaming services. Given the scope for growth in the market, all the players are ramping up their efforts to boost their subscriber base. With such an increase in budget for original content by all providers, Netflix’s attempt to look for newer channels to expand global reach is prudent in our view.

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