Social isolation has become the norm in the wake of the COVID-19 coronavirus pandemic, which has led many bored people to binge-watch shows and films on streaming services like Netflix. As a result, Netflix's number of subscribers and stock price has risen to the point that the company is now worth more than Disney.
Disney+, as a singular streaming service, is doing quite well having recently acquired over 50 million subscribers in a short amount of time. However, the rest of Disney's brand isn't faring as well, with major films being delayed, movie and television development being placed on hold, and parks all over the world having to be shut down.
When the stock market closed today, Netflix was listed at $426.75 per share, which gives it a market capitalization of $187.3 billion, which beats out Disney's at $186.6 billion. Disney's shares have been gradually rising, but they still haven't recovered from where they were earlier this year before it crashed in March due to the decisions Disney had to make following the coronavirus outbreak.
Netflix is surely benefiting from having a much larger catalog that it's acquired over a longer period of time than Disney+. However, the company hasn't escaped unscathed from the coronavirus pandemic itself, as shows like The Witcher have been put on hold until it's safe for the cast and crew to work together without risking infecting each other.
Source: Variety