Netflix, Inc. (NASDAQ:NFLX) is the undisputed king of streaming media, and there’s little evidence to suggest that anyone else could dethrone it any time soon.
As The Motley Fool reports, a Wall Street study showed that Netflix’s power is actually still growing:
A recent survey by Morgan Stanley analyst Brian Nowak found that both of the top streaming services were more popular this year than last year. Netflix usage was up 4 percentage points to 46% of respondents, and Amazon usage was up 3 percentage points to 30%. Their increased popularity came largely at the expense of free over-the-air television and authenticated TV apps, indicating other streaming services are helping drive viewership from television to stand-alone streaming.
The reason why Netflix remains on top is pretty clear: original programming. 55% of respondents listed that factor as a reason for viewing, up 5 percentage points from last year’s survey. Netflix’s budget for such content is immense, and it plans to unleash a record 700 pieces of new original content this year alone.
The second most selected reason for viewing was “broad selection of content,” however, which could become a negative factor as licensing for Disney content expires next year. Amazon Prime actually overs a greater variety of content than Netflix, which likely accounts for it being cemented in the number two spot.
Netflix, Inc. shares fell $0.48 (-0.15%) in premarket trading Wednesday. Year-to-date, NFLX has gained 69.89%, versus a 2.00% rise in the benchmark S&P 500 index during the same period.