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Now, many have made a decision to keep their content for their own services as Netflix and another tech giant, Amazon.com Inc., continue to lure new customers to streaming.

Despite the revenue growth, Netflix's stock initially fell almost 4 percent in after hours trading Tuesday, due mainly to a lower than expected earnings per share (EPS) prediction for Q2.

But the company is less optimistic about growth for the second quarter.

Netflix kicked off the year with the biggest subscriber gains in the history of its video streaming service, but forecast a springtime slowdown that disappointed investors.

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However, when you add in that all of that content from those cable channels and movies will also be appearing on the new Disney+ streaming service and potentially attracting new viewers, the price begins to be paid back that much faster with every new subscription to the service. Revenues for the quarter topped $4.5bn and the company reported a profit of $344m.

As the cheapest plan for mobile-only subscription is not available to United States consumers, Netflix is seeking to boost its presence in Korea amid growing competition in the streaming service market. "The increasing number of streaming services with high-quality, exclusive content away from the legacy multichannel bundle appears to be making it easier and easier to cut the chord".

Disney has a separate streaming service, Disney+, in the offing which will be aimed at a younger audience and plans to use Hulu for more adult fare. "We think that they'll be important to adding members in India" chief product officer Greg Peters said during the company's earnings conference call.

It said in a statement: 'We don't anticipate that these new entrants will materially affect our growth'.

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Disney announced last week that its ad-free, family-friendly subscription service, which will allow consumers to download its content for unlimited offline viewing, will cost just $6.99 per month and offer access to 100 recent and 400 classic movies from the Disney library, including the titles from the infamous Disney Vault.

Netflix predicted it would pick up 5 million new streaming subscribers from April through June.

"We believe Netflix can not win" such a war because of Disney's cost advantage from owning a vast amount of content.

The service will also be the exclusive home to 30 seasons of "The Simpsons" - TV's longest running prime time scripted series. The aggressive spending has led to a tripling of the company's debt in two years, to US$10.36-billion in 2018, from US$3.36-billion in 2016.

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"We are confident that the combination of our unrivaled storytelling, beloved brands, iconic franchises, and cutting-edge technology will make Disney+ a standout in the marketplace, and deliver significant value for consumers and shareholders alike", said Iger.

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