Netflix shares plunge after comments by CEO

Netflix CEO , Mr.Reed Hastings

Over the past years, " Netflix " has achieved a worldwide reach and has achieved great success as one of the pioneers of original online content , 

But recently, despite the company's growth, the digital broadcasting market has seen great competition, especially with two major companies such as

 " Disney " and  " Apple " entering the market.

The network's CEO, Mr." Reed Hastings ", seems to be well aware of this, and this is what he admit in his statements in one of his recent meetings , 

Reed said that both Disney and Apple will present a fierce competition with the Netflix network in the coming period, especially with the investments of both companies against the investments of the Netflix network ,

And it seems that Reed's statements had a negative impact on the network shares.

There were some reports  that indicated a significant decline in Netflix shares by 5.5%, especially after Reed's comments about the intensified competition between the network and Disney and Apple ,

It seems that Netflix's management should be a little silent and not talk about this fierce competition because it is negative for all of them.

It is noteworthy that the service of

Apple TV +  will be officially launched in the markets on November 1 next month with a monthly subscription of  4.99 dollar  and will provide a lot of movies and series exclusive to the company "Apple".

Disney + will be launched on November 12 with a subscription of  6.99 dollar per month and will offer a huge library of its exclusive movies and series