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Netflix says it's more worried about competition from video games like 'Fortnite' than other streaming services
By: Business Insider | January 18, 2019

• Netflix said it's more worried about "Fortnite" and other types of entertainment than it is about competing streaming services like HBO, Hulu, and Amazon Prime Video.

• A letter to shareholders reported that the company had 139 million subscribers at the close of 2018, and that Netflix accounts for about 10% of all television screen time in the U.S.

• "Fortnite," the world's most popular video game, reportedly generated $2.4 billion in 2018, and more than 200 million people have played the free game.

As more and more movie streaming services crop up, Netflix said it's not concerned with comparing itself to the competition. Instead, Netflix is more worried about keeping members watching instead of choosing another type of entertainment entirely — like video games.

In its fourth-quarter earnings report on Thursday, Netflix said it accounts for roughly 10% of all television screen time, with viewers streaming 100 million hours of content per day. By the close of 2018, the company had 139 million subscribers and had raised revenue by 35%, but still fell short of their earnings expectations for the fourth quarter. And in an increasingly diverse entertainment landscape, Netflix is now facing stiff competition from the likes of "Fortnite."

"We earn consumer screen time, both mobile and television, away from a very broad set of competitors," the quarterly earnings statement read. "We compete with (and lose to) 'Fortnite' more than HBO."

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