A report shows Netflix is pushing aside all competition here in Australia, and is on its way in establishing itself as the premier video viewing platform in the country.
An analyst report from Citi Research media says Netflix will overtake Foxtel within three years, and that compared to local SVOD offerings, Netflix is by far the platform of choice.
With 1.6 million subscribers already since its launch in March, and with that figure expected to double by 2018, Netflix may soon dwarf the 2.7 million subscribers that Foxtel currently has. Even with this looming threat, Citi analyst Justin Diddams says that it's free-to-air TV networks that have the most to worry about Netflix.
"Don't forget that 70 per cent of households pay nothing for video content in Australia, so there's a lot of pent up demand for content," Mr Diddams told Fairfax media.
"It doesn't mean the death of Foxtel, but it means an explosion in content consumption in Australia in the 70 per cent of households that don't pay anything today."
Netflix's is also significantly more popular than that of rivals Stan (332,000 sign-ups) and Foxtel owned Presto. And even more significantly, more people end up paying for a subscription on Netflix than on the other networks after trial period us over. 39 percent of Netflix trialists say they're likely to subscribe, compared to only 11% for Stan and 28% for Presto (only 10% of those enjoying the Netflix trial are disappointed enough to say they're unlikely to sign up, compared to 19% for Stan and a massive 31% for Presto).
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