The most valuable media company in the world is no longer Disney, with CNN reporting today that Netflix moved into the No. 1 spot ahead of Disney today as prices of the companies’ stock shifted.
“Shares of Netflix were up Thursday even as Disney, Comcast and the broader market fell,” CNN reports. “Netflix’s market value is now $153.1 billion. Disney’s market cap as of Thursday afternoon was $152 billion.”
Netflix found its way past Comcast a day earlier to briefly become No. 2 on the list. Today Comcast was valued at about $145.5 billion.
“Netflix has added millions of subscribers around the globe for the past few years,” CNN notes. “The company’s success demonstrates that its bet on original content — shows like ‘Stranger Things,’ ‘Orange is the New Black,’ ‘The Crown’ and ’13 Reasons Why’ — has paid off.”
The report notes that even a price hike for Netflix subscriptions last year hasn’t slowed the company’s growth.