Publications
Publications
- May 2025
- HBS Case Collection
The Video-Streaming Wars in 2025: Can Anyone Catch Netflix?
By: Anita Elberse and Javiera Larenas
Abstract
On January 21, 2025, Ted Sarandos, co-chief executive officer of video-streaming service Netflix, presented the company’s quarterly earnings. He had every reason to be upbeat: Netflix added 19 million new subscribers in the final quarter of 2024, ended the year with a staggering 302 million global subscribers, saw annual revenues jump to $39 billion, and grew its market cap well over $400 billion—all record highs in the company’s history. With these results, Netflix further pulled away from traditional media conglomerates such as the Walt Disney Company (with its Disney+ and Hulu streaming services), Comcast (with Peacock), Warner Bros. Discovery (with Max), and Paramount Global (with Paramount+) as well as other technology giants active in the video-streaming space. Had Netflix taken an insurmountable lead in the video-streaming wars? Or could the streaming powerhouse’s rivals find a way to unseat Netflix as the leader in video streaming?
Keywords
Citation
Elberse, Anita, and Javiera Larenas. "The Video-Streaming Wars in 2025: Can Anyone Catch Netflix?" Harvard Business School Case 525-059, May 2025.