Netflix company stocks are at an all-time high, surpassing its own record and, for the first time in history, Disney’s current stocks.
For the first time in entertainment history, the big red N surpasses Mickey and friends as Netflix is now worth more than Disney. Disney has been one of the biggest names in the entertainment industry for decades. The entertainment titan started out as an animation studio releasing flicks like Snow White and the Seven Dwarves and shorts like Steamboat Willie. As animation technology advanced and Disney was able to create household characters that would remain in fans’ hearts for the decades to come, it was able to create its own network Disney channel, theme parks across the world, cruise lines and its own streaming service Disney+.
While Netflix is the king of streaming platforms, it normally could never compete with entertainment giant Disney. However, the coronavirus outbreak has taken everything from Disney except its own streaming platform. Disney’s net worth is hurting as parks remain closed until further notice, movie theater release dates for its upcoming feature films have been postponed and cruises will likely be shut down for even longer. Now one of the few ways Disney has to compete with its entertainment rivals is Disney+. While Disney+ is one of the more successful streaming services out there and continues to give Netflix a run for its money, Disney+ is fairly new at only a few months old and has a much more limited selection than Netflix.
The entertainment industry never thought it would see the day that Disney would come in second place. However, it’s not too surprising during these times when all people have to do is sit at home and watch TV. The Disney+ catalogue can grow repetitive while Netflix is on a roll with its new reality TV series like Love is Blind and bizarre documentary series like the infamous Tiger King in addition to its long list of original movies and TV series. While Disney is hurting, it is in no danger of going bankrupt and will likely come back stronger than ever once it can reopen the doors of its theme parks and release its movies in theaters.