Netflix is currently worth more than Disney after the streaming company’s shares hit an all-time high on Wednesday.
Netflix stock closed up 3.2 per cent to $426.75 per share, giving the company a current market capitalisation of $187.3 billion, reports Variety.
Meanwhile Disney’s stands at $186.6 billion, after the corporation’s stock finished down 2.5 per cent amid broader market decline on Wednesday.
Pivotal Research Group expects Netflix to gain 8.45 million new subscribers in Q1 2020. “We believe the unfortunate COVID-19 situation is cementing [Netflix’s global direct-to-consumer] dominance partly driven by the incremental content spend that is enabled by their massive and growing subscriber base,” said analyst Jeffrey Wlodarczak.
Cowen & Co. has a more conservative estimate of 7.1 million net new Netflix subscribers. “We expect a strong [quarter] driven by a solid slate of originals coupled with a captive audience due to the COVID-19 pandemic,” said lead analyst John Blackledge.
