Netflix Inc. (NASDAQ: NFLX) has long been the top dog of online streaming services, but as more companies are starting their own streaming services, Netflix could be losing out on some key subscribers. Amazon.com Inc. (NASDAQ: AMZN) is one of these services that has been a growing threat to Netflix, but perhaps the one gaining the most momentum is Hulu.
Hulu recently announced that its subscribers soared to over 17 million in the past year, as the result of an expanded library of shows and new cable-like service. While this is much less than Netflix’s most recently reported 109.25 million memberships, Hulu’s growth is similar to what Netflix saw years ago when shares first started soaring.
Back in May 2016, Hulu said that it had 12 million subscribers, and since then it has seen subscriber growth of 42%.
Hulu was started as an online service for viewers who wanted to catch up on broadcast television and cable shows. But since, it has grown into a big name in the online streaming industry offering more.
Keep in mind that Walt Disney Co. (NYSE: DIS) acquired a majority stake in Hulu as part of its Fox acquisition deal announced last year. With the Mouse House at the helm and potentially pumping Hulu full of its content, this service could very well be the next big thing. Amazon and Netflix beware.
Shares of Netflix were last seen trading at $211.47, with a consensus analyst price target of $216.00 and a 52-week range of $128.50 to $212.95.
Amazon shares were trading at $1,247.49. The stock has a 52-week range of $789.51 to $1,259.33 and a consensus price target of $1,290.93.
Disney traded at $110.32 a share. The consensus price target is $113.49, and the 52-week range is $96.20 to $116.10.