Wednesday, 20 March, 2019


Comcast Increases Offer, Disney’s Move Next — Fox Takeover

Netflix is proving to be a tough act for copycats to follow Report Netflix Now More Valuable than Disney Comcast The Associated Press 24 May 2018
Conrad Doyle | 26 May, 2018, 03:18

But Disney regained the crown by the close after Netflix shares pared their gains, taking the streaming company's market cap below $152 billion.

Netflix's stock closed Friday at $351.29 per share, up 0.6%, to give it a market cap of $152.7 billion.

The advance underscores the high confidence investors have in the future of the world's largest paid online video service. In comparison, Comcast's market cap was valued at $147.15 billion, which sees its online competitor besting their more traditional opponent by over $5 billion.

A day after Comcast said it was preparing to challenge Disney's pending deal to acquire most of 21st Century Fox, Disney's stock price has slipped again.

Still, Netflix's revenue remains well below that of the media titans. Last year, Netflix surpassed the market capitalization of Time Warner - target of AT&T's still-pending takeover.

It's also announced plans to introduce its own streaming service, which is due to be released next year and has already got fans excited after revealing it would be creating a brand spanking new Star Wars TV show and a Marvel TV show, but most importantly, according to Screen Rant there will also be A Mighty Ducks TV series.

Netflix was founded in the U.S. in 1997 as a DVD rental service and made its stock market debut five years later with about one million subscribers.

The Los Gatos, California-based streaming company is spending billions on programming to attract new viewers, prompting concerns among some analysts. Netflix will lay out about $8 billion for movies and shows in 2018, and forecasts $3 billion to $4 billion in negative free cash flow.

With Disney sitting at $153.36 billion, Netflix is less than $500 million from passing up the Mouse House. In conjunction with Monday's announcement, Netflix's stock was up nearly 4 percent. Comcast has begun selling the Netflix service as part of its cable packages.

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