Home » Technology » Netflix Surpasses Disney in Profits amid Coronavirus

Netflix Surpasses Disney in Profits amid Coronavirus

Since many people are sitting at their home in quarantine, companies like Netflix are profiting a lot. The company’s stock has hit an all-time high this week and overtook Disney another rival media platform.

This week’s report shows that Netflix with a market capitalization of $187.3 billion has taken over Disney whose market capitalization is $186.6 billion after the firm’s stock finished down to 2.5%. It looks like Netflix lies among those companies on the planet now which are profiting in the middle of the coronavirus lockdown crises which forced millions of people to stay at home.

Also read: NED University Revises its Admissions Policy Amid Coronavirus Outbreak

 Netflix’s closing stock price back on July 9th, 2018 was $418.97. Now there is an increase in streaming amid coronavirus as the rate of viewing increases by a massive 109pc in March 2020 in comparison with the last year.

This year the market value of Netflix has increased up to more than 50 billion dollars.

Whereas the company is gaining benefit from a massive viewership which is around 169 million, Forbes reports that Netflix is also profiting from the halt in the entertainment production which has allowed the company in freeing up the cash flow to collect more profits.

More read: Apple To Release macOS Update To Extend Battery Life

Stella Phillip

She works as an editor at Research Snipers.