Thats a wild sentence to read in the headline huh? What an accomplishment for Reed Hastings and Netflix.
It’s stock today rose to $349.29 per share with a market cap of $161 billion, while Disney took a small hit and fell to $102.11 per share, with a market cap of $152 billion. Thats an insane amount of money for both of these media empires.
Netflix consistently churns out quality originals, and supplements them with a good assortment of movies and TV shows from the past to keep people entertained. They’re set to put out more than 800 pieces of original content in 2018, and have an ever expanding library of outstanding standup specials (my most recent addiction). It makes sense, but will it last?
Disney is still set to release their own streaming service at some point in the near future, or potentially focusing on Hulu, where they will be majority owners if their purchase of 21st Century Fox goes through. That means all of their content will leave Netflix (after the contract is up) and migrate to a new platform. I hope they expand their lineup of streamable movies as well, and reach deep into their backlogs ( Really I just want to be able to watch Robin Hood.)
I would also assume that ESPN (who’s parent company is Disney) would have their content placed on Disney’s service, meaning all of the 30-for-30 content that they have produced. That even further increases the value of said service, and I would assume at its launch would bump Disneys stock up and make them the top dog again.
For now though, Netflix is King.