Why is Netflix worried about Disney
Corona time winner : How Netflix depended on Disney during the crisis
They also exist in times of Corona, the crisis winners. While many US companies shut down shops or factories and take leave or lay off employees, the standstill plays into the cards of others. Netflix is such a case - the online video service benefits like few other companies from the fact that many people around the world stay at home. The market leader also landed a major viral hit with the documentary series “Tiger King”.
The group, founded in 1997, is on one of the greatest waves of success in its history. On the stock exchange, the share has already gained over 36 percent this year and recently cracked new record highs. With an enterprise value of just under $ 195 billion, even the US entertainment giant Walt Disney, which was worth twice as much in winter, was overtaken.
On Tuesday after the US market closes, Netflix wants to present its results for the first quarter. The pandemic should make for strong numbers. Netflix is already the undisputed king of streaming: Even before the global shutdown, the service had 167 million subscribers. From the beginning of January to the end of March, Netflix wanted to gain seven million more customers.
Experts expect Netflix to easily exceed its goals. The “stay at home” era caused by the virus should ensure that Netflix continues to expand its lead in the market, says Credit Suisse. The competition is not global enough to benefit to the same extent.
The new rival Disney + is also booming - just the week before last it announced that it already had 50 million paying subscribers just five months after its launch. Disney attracts with promotional prices and popular productions such as the “Star Wars” series “The Mandalorian”, but the gap to Netflix remains large for the time being. Because while the market leader has been in business for over ten years and is represented in over 190 countries worldwide, the international expansion of Disney + has only just begun.
Unlike Disney, Netflix has no other lines of business like theme parks or cruises that are suffering from the crisis. Even after the pandemic is over, Netflix will continue to benefit. Many of the new customers are likely to keep the service afterwards. (dpa)
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