Most companies are struggling right now, for sadly obvious reasons, but not Netflix. Netflix is thriving, as millions of people are stuck at home all day with nothing else to do than watch Spider-Man: Into the Spider-Verse for the third time this month. (That is not a judgement, it’s a recommendation.) Variety reports that the streaming service’s stock is currently an all-time high, and for the first time ever, Netflix is “worth more” than Disney.
“Netflix’s stock, extending its three-day rally, closed up 3.2 percent [on Wednesday], to $426.75 per share. That gives Netflix a current market capitalization of $187.3 billion, putting it just over Disney’s $186.6 billion, after the media conglomerate’s stock finished down 2.5 percent amid a broader market decline Wednesday,” according to Variety. Netflix’s previous high was $418.97/share, which it hit in July 2018, the same month The Epic Tales of Captain Underpants premiered. I assume that’s not a coincidence:
Netflix is scheduled to report first quarter 2020 earnings next Tuesday, April 21, after market close. It previously forecast total paid net adds of 7.0 million worldwide. Many analysts expect Netflix to gain more than that. Pivotal Research Group now expects Netflix to net 8.45 million new subscribers for Q1. (Via)
In two weeks, eight million new Netflix subscribers are going to be asking all their friends, “Have you heard about this Tiger King?” Yes, we’ve heard about Tiger King.
(Via Variety)