Netflix may be churning out original series left and right, but its movie catalog is trending in the opposite direction. According to a new study from Streaming Observer, Netflix’s film catalog has shrunk by 40%, or about 2,600 films, since 2014. The rapid decrease is largely due to competition from Disney+ and forthcoming streaming services like WarnerMedia’s HBO Max and NBCUniversal’s Peacock, which have begun to pull their titles from Netflix in an attempt to strengthen their own libraries.

According to data sourced from streaming search engines ReelGood and JustWatch, Netflix’s film library has shrunk dramatically over the past five years. In March 2014, U.S. Netflix users had access to 6,494 films, but by March 2016, that number had dropped to just 4,335. As of November 20, 2019, Streaming Observer reports, the movie catalog has decreased to 3,849 movies. Overall, that’s a decrease of more than 2,600 titles, or about 40% of Netflix’s total film library.

It’s not a coincidence that Netflix’s film library began to dry up in the middle of the decade, when the first rumblings of the Streaming Wars started to alter the landscape. While many media companies launched their competitor streaming services just this year (Apple TV+ launched November 1, while Disney+ launched November 12), their plans were in the works for years. Over the past five years, companies slowly began removing their content from Netflix in preparation for their respective launches: Disney grabbed the Marvel and Star Wars movies, Warner snapped up its cinematic classics, and CBS pulled police procedurals and medical dramas. That trend will only continue in the coming months, as Warner reclaims Friends for HBO Max and The Office leaves Netflix in January 2021.

But there are two pieces of good news for Netflix fans, particularly those in the United States. According to Streaming Observer, Netflix’s movie library is still larger in the U.S. than in other nations, including Australia (3,480 films), Canada (3,844), and Germany (2,704). Additionally, on the television side, Netflix has managed to successfully rebuild its library despite losing hundreds of licensed series: the streaming giant has reportedly increased its TV library from 1,197 titles in 2016 to 1,784 in November 2019. The bulk of these titles are global original series or foreign-language titles purchased after they air in their native countries.

For more on Netflix’s shrinking film library, check out Streaming Observer’s report.