Netflix surpassed Disney as the most valuable US media company on Thursday, a sign that Netflix’s subscriber growth, coupled with potential problems in Disney’s acquisition of 21st Century Fox’s TV and film assets, as well as changes in entertainment media consumption habits, are contributing to fundamental shifts in power. Netflix shares jumped energetically in Thursday morning trading and by 12.15pm local time in New York, the stock was up 1.9%, to an all-time high of $351.09 per share. Streaming giant Netflix is riding high on news of a multimillion-dollar deal with Barack and Michelle Obama to use their newly created TV production house, Higher Ground Productions, to create shows. But the battle between Netflix and Disney may only just be heating up. The two companies have been wary rivals, with Disney licensing some content to Netflix.

Source: The Guardian May 24, 2018 17:51 UTC