Netflix is Now Worth More Than Disney

The Walt Disney Company has been a dominating force in pop culture for decades, with its films, TV series, and consumer products making it one of the most profitable companies in history. While it's tough to say how long it will last, a recent bump in Netflix stock prices and drop in Disney's put the streaming service in a more profitable position than the competing media conglomerate.

According to Yahoo!, Netflix shares saw a surge this afternoon, raising its value to $351.09 per share for a grand total of $162 billion. Disney's stats, however, dropped to $101.74 per share for a market cap of $152 billion.

This is only the most recent accomplishment for Netflix, as the close of the market on Wednesday evening saw the company pass Comcast in total value.

One factor that resulted in Netflix's surge was Tuesday's announcement that the service had partnered with President Barack Obama and First Lady Michelle Obama for a production deal.

Netflix should enjoy its earnings while they last, as a series of behind-the-scenes developments at Disney could push its market value higher than ever before.

Between Black Panther and Avengers: Infinity War, Disney and Marvel Studios have dominated the worldwide box office, a trend which will likely continue with this week's Solo: A Star Wars Story and July's Ant-Man and the Wasp. Additionally, the studio will be releasing the highly-anticipated Incredibles 2, Mary Poppins Returns, Ralph Breaks the Internet: Wreck-It Ralph 2, and Christopher Robin. While Netflix might have some exciting movies and series debuting this year, it's not the same return as a theatrical release.

Disney is reportedly in negotiations to acquire a majority of 21st Century Fox's assets, which would incorporate some big-name properties into the company. One of the most talked-about elements of this potential deal is that Disney would obtain the rights to the Fantastic Four and the X-Men, allowing these characters to be integrated into the Marvel Cinematic Universe.

Netflix is primarily relegated to delivering content on its service while continuing to offer its movies by mail service, while Disney has new avenues in content distribution to explore. The media company will be launching a streaming service next year, which will feature its vast library of films, while also delivering all-new movies and TV series. Depending on what Disney announces about the service before the end of the year, their shares could see some serious spikes

Stay tuned for details about the competing companies.

Do you think Disney will eventually topple Netflix? Let us know in the comments below!

[H/T Yahoo!]