Continue Reading Below
“What we are looking at is more consolidation, particularly in the streaming wars,” Bibb told FOX Business’ Neil Cavuto on Monday. “They're not going to be a dozen winners. They're going to be maybe four companies that survive.”
While Netflix isn’t going anywhere, he said, its business model could pose obstacles.
“The problem that Netflix… is facing, in five years they'll have maybe 150 million global subscribers and so will Disney,” he said. “But the difference is, Disney is making a profit and Netflix never has. Somebody else is going to have to take over Netflix.”
According to Ampere, more than 300 million households worldwide have access to Netflix, due to an increased number of partnership deals with pay-TV companies. This year alone, the streaming giant signed more than 15 deals.
Meanwhile, Disney+ attracted more than 10 million subscribers in its first day.