The coronavirus pandemic has taken a very devastating toll on companies all around the world. Very few companies are thriving right now. One company that is doing very well is streaming giant Netflix. They have been able to attract many new subscribers thanks to the fact that millions of people around the world are forced to stay at home because of the virus. Therefore, these people are in desperate need of entertainment since they cannot go to concerts, sporting events or movie theaters. In fact, Netflix is doing so well that the company has gained $50 billion in value since the start of this year. Netflix is now worth $10 billion more than Disney.
Disney is one of the most famous names in the entertainment industry. However, the pandemic has cost the company literally billions of dollars. They have needed to close all of their theme parks around the world. All of their theatrical movies have been delayed. Netflix does not have any of those concerns. Disney’s total value has dropped roughly $70 billion over the past few months. There is no clear date for the theme parks and movie theaters to open again. That means that Disney is still going to be losing money for the foreseeable future.
More quarantine time for people all over the world means that more people will be jumping on the Netflix bandwagon for all of their entertainment needs. Netflix has another big advantage in terms of their original content. While they did need to shut down all of their movie and TV productions, they have many shows and films that are finished and waiting to be released. This means that they will be able to keep churning out new content while all of the other streaming platforms and studios remain at a standstill.
The future for Netflix is definitely bright. It will be very interesting to see how many of their new subscribers they are able to retain after the pandemic finally comes to an end and life returns to normal. If they can hold on to even one quarter of the people who have signed up since the start of the pandemic, that will be an enormous boost for the company. There were many people who thought that Disney+ would be able to give Netflix a run for their money. That has turned out not to be the case. Netflix is the clear streaming leader.
Dil Bole Oberoi
