Netflix is Now More Valuable Than Disney
It's pretty incredible that a company that started out as a DVD mail subscription service is now the worlds most valuable media company. According to Variety, Netflix is even more valuable than Disney! That just seems crazy, but it's true. The report explains:
As of 12:15 p.m. ET, Netflix shares were up 1.9%, to an all-time high of $351.09 per share. That gives the company a market cap of nearly $162 billion.
Disney’s stock was down 1.1% in midday trading, to $101.74 per share, yielding a market cap of close to $152 billion.
Over the past year, Netflix shares have increased more than 80% in value. The streaming service has continued to sustain their high rate of growth and it currently stands at having 125 million subscribers worldwide.
Netflix continues to pump out quality original entertainment and as previously reported, by the end of 2018 they will have released 1,000 original projects. It's also said that they will have spent around $8 billion on content this year alone.
It'll be interesting to see where Netflix is at 5 years from now and see what they are doing.