Netflix Bigger Company Than Walt Disney:
Okay something that Disney didn’t really expect especially after the massive success that they got last year. Walt Disney has really taken a huge hit due to the Coronavirus Pandemic. Disney has been successful with their streaming service over the last few months or so, but everything has gone wrong for them this year. Their theme parks have been shut down temporarily, and people are obviously not able to go to the theatres. And in a situation like this, the streaming giant Netflix is benefitting way more.
Disney’s stock has come down than what it used to be. It took a hit so big that at one point, analysts began to think that Apple will actually make a move to take over the Mouse House. But Disney sustained, and now according to a new report from NME, Netflix has taken over Disney in terms of its Net Worth. They report that since the number of people streaming content at home has grown magnanimously. In fact, the rate of videos being streamed in the US has gone up by 109 percent in March. Since Netflix has been adding loads of content over the last month or so, they’re obviously making the most of this lockdown period, and this has resulted in their net worth going slightly over Disney. Disney+ is a success but obviously not as big as Netflix since their catalogue isn’t even close to what Netflix possesses.
Disney is currently worth $186.6 billion while Netflix has gone past it with a worth of $187.3 billion on the stock market. Since COVID-19 isn’t going away anytime soon and Netflix is going to add even more content, it’s highly likely that the streaming giant will continue to prevail. Disney will only have a chance to get back in the game once the Pandemic gets over.
I just have the biggest passion for everything cinematic! I want to share this passion with everyone through my writing about Hollywood Movies and TV. Other than that, I am a big sports fanatic and enthusiast. I’d like to write about my favorite sports as well some day.