Netflix Is Now Worth More Than Disney, Not Everyone is Suffering In This Pandemic

netflix

Companies are struggling right now because of the horrible pandemic, but not Netflix. Netflix is growing, as millions of people are grounded at home all day with nothing else to do than watch Netflix. Variety reports that the streaming giant’s stock is currently an all-time high, and for the first time ever, Netflix is “worth more” than Disney.

“Netflix’s stock, extending its three-day rally, closed up 3.2 percent [on Wednesday], to $426.75 per share. That gives Netflix a current market capitalization of $187.3 billion, putting it just over Disney’s $186.6 billion, after the media conglomerate’s stock finished down 2.5 percent amid a broader market decline Wednesday,” according to Variety. Netflix’s former high was $418.97/share, which was achieved in July 2018, the same month The Epic Tales of Captain Underpants aired.

Netflix is scheduled to report first quarter 2020 earnings next Tuesday, April 21, after market close. It previously forecast total paid net adds of 7.0 million worldwide. Many analysts expect Netflix to gain more than that. Pivotal Research Group now expects Netflix to net 8.45 million new subscribers for Q1. (Via)

In the last 14 days, eight million new Netflix subscribers are asking their friends about which new show they have watched.

(Via Variety)

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