Netflix has taken the iron throne from Disney, as its shares went up and the broader market fell down.
As of Thursday morning, Netflix has retained a new market value worth $151.6 billion with Disney falling to $151 billion.
Over the last couple years, Netflix has cemented a name for itself in the entertainment industry with its millions of subscribers. It has also proved its worth and the test of time as the company has created successful original content, such as "Stranger Things," "Orange Is The New Black," and "House of Cards."
Back in October, Netflix raised its prices with the standard plan increasing from $10 to $11. Although the plan now costs only $1 more a month, that $12 difference at the end of the year had the potential to turn many people away.
But in April, CNN reported
an increase of 7.4 million subscribers of Netflix and that was just the first three months of the year. Netflix has a grand total of 125 million subscribers.
To put that into perspective, CNN also reported
that Hulu finally hit 20 million subscribers on May 2 – that's a 105 million difference between companies.
Disney announced in August of 2017 that it has plans to create its own streaming service and will pull
its movies from third-party sites. The site is expected to launch in 2019.