Disney Market Value Now Twice Netflix’s After Latest Surge

(Bloomberg) -- Gone are the heady days of 2018 when Netflix Inc. was briefly worth more than entertainment heavyweights Walt Disney Co. and Comcast Corp.

Disney’s market value at $268 billion is now twice that of Netflix’s after a recent surge fueled by optimism about its rival streaming service. Disney shares rose 7.4% to a record on Wednesday after reporting that 10 million customers subscribed to its Disney+ service, which debuted on Tuesday.

Netflix has seen its market value fall to about $124 billion from a record $182.1 billion in July 2018 amid slowing revenue growth and increasing competition. Comcast Corp. has a market value of $206 billion.

To be sure, Disney’s market value increase was aided by its $71 billion acquisition of 21st Century Fox Inc.’s entertainment assets. The deal was completed in March.

To contact the reporter on this story: Jeran Wittenstein in San Francisco at jwittenstei1@bloomberg.net

To contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Jennifer Bissell-Linsk

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