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Netflix points to 'Fortnite' as competition after its price hike

Just days after revealing higher prices coming to customers in the US, Netflix is revealing its Q4 2018 results, and it's already looking to the future. While a few years ago Netflix was the "Albanian army" coming to take on HBO, execs said in a letter to investors (PDF) that "We compete with (and lose to) Fortnite more than HBO."

Interestingly, this is also the first quarter where Netflix has limited insight into its subscribers by region. Now it only reports paid accounts globally, instead of breaking out the US and also mentioning the number of free accounts. While it had anticipated reaching 137 million subscribers worldwide, the count is up to 139 million, however revenue fell just short of expectations.

As far as that price hike -- its largest ever -- Netflix confirmed that it's already in effect for new accounts, and will roll out to existing customers across Q1 and Q2. In order to justify a higher rate, it looks like you'll see a lot more original content, and also possibly fewer reruns. In the letter it said "we're becoming less focused on 2nd run programming, although it also said the company would pay top prices for it "when studios, networks and producers are willing to sell."

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