Netflix is now worth more money than Disney following the Coronavirus pandemic which has seen more and more people gravitate towards the streaming service.
This news comes from Variety who reported that Netflix is currently worth an estimated $187.3 billion.
This has put the streaming platform’s worth above Disney’s which is currently worth $186.6 billion.
It seems as though Disney’s stock has been hit very badly by the Coronavirus which shouldn’t come as a surprise.
Disney has been forced to close its theme parks around the world and they aren’t releasing any movies.
They were scheduled to release Mulan and Black Widow, but those movies have now been pushed back due to the COVID-19 outbreak.
Netflix’s stock is now higher than Disney’s
There’s also the fact that more and more people have been going to Netflix for their entertainment whilst being stuck inside.
They’ve seen record numbers of people streaming their content via their website and app.
This has also coincided with the release of global smash hit docuseries, Tiger King.
Tiger King has been streamed by over 35 million people, which is very close to the number of people who watched Stranger Things Season 3.
It seems as though this pandemic has helped Netflix do very well in the past few weeks.
However, Disney is also in the streaming game with the recent release of Disney Plus.
Yet, it hasn’t been helping their stock value as much as they would have hoped.
What do you make of this news?
Are you surprised to hear that Netflix’s stock is now worth more than Disney’s during the Coronavirus pandemic?
Let us know in the comments below.
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