From a CNN article:
The company mentioned WarnerMedia, Disney and NBCUniversal, which have launched HBO Max, Disney+ and Peacock, respectively. Netflix even gave a shout out to short-form video app, TikTok, calling its growth “astounding.” Warner Media is owned by AT&T and is the parent company of CNN.“Instead of worrying about all these competitors, we continue to stick to our strategy of trying to improve our service and content every quarter faster than our peers,” Netflix said on Thursday. “Our continued strong growth is a testament to this approach and the size of the entertainment market.”
Yes, that is it – Netflix said it all. Indeed, poor execution destroys more startups than competition. That is why after they are gone, the market frictions remain unfixed. Spend more time thinking of your execution than worrying about competition which may not really matter in inventive but NON innovation societies.
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It’s the same way pouring money into something doesn’t fix it, at best it provides a bandage, rather treating the wound.
If you look at the broad streaming industry, you have hundreds of them running, but you only hear a handful of them; the funny thing is that you can launch today and become an instant hit. So it boils down to value proposition and execution capability.
Competition is a secondary problem, especially in a place like Nigeria; because all your supposed competitors’ performances are still sub par, so cannot really be called competition. The problem is always about who can execute flawlessly, only few have a clue on it.