Streaming video provider Netflix admitted it is not focusing on trying to deal with competitor and retail giant Amazon, but rather YouTube and online game Fortnite.
Netflix made the announcement in its most recent letter to shareholders.
"Our focus is not on Disney+, Amazon, or others, but on how we can improve our experience for others," the letter reads, according to CNBC. "We compete with (and lose to) Fortnite more than HBO. When YouTube went down globally for a few minutes in October, our viewing and signups spiked for that time."
Disney+ is expected to launch in September and will feature content from Walt Disney Studios. YouTube has a large share of the video market.
Netflix said its own app accounts for roughly 10 percent of U.S. television screen time on smart TVs and devices such as Roku and Apple TV.
Amazon offers music and video content through its app. Among HBO's products is HBO Go, which can be accessed via Roku, Apple TV, and other methods.
Netflix's stock closed at $353.19 per share Thursday. The company announced this week it is raising prices by anywhere between 13 percent and 18 percent, depending on the plan.
© 2024 Newsmax. All rights reserved.