The Walt Disney Company (NYSE: DIS) stock is flying today. The price is up more than 14% at writing compared to the S&P 500, which is down about 0.5%.
The current share price is near $177 per share, which gives the company a market cap valuation of $320 billion.
While the COVID-19 pandemic has caused Disney’s theme parks to shutter, its streaming service has blown expectations out of the water.
The company reported that it currently has about 87 million subscribers. It’s projected that number could continue to climb as high as 260 million by 2024.
Streaming powerhouse Netflix, Inc. (NASDAQ: NFLX) reported 195 million subscribers in the third quarter of 2020.
Netflix has warned investors that the exponential growth it experienced during the pandemic will likely level off once society returns to normal.
But Disney has multiple streams of revenue. Once the pandemic is over, its theme parks can reopen. And it still plans to release big box-office movies to theaters. New Star Wars, Marvel, Pixel, and Disney movies are slated for release in the coming months and years.
Disney is also the parent company of streaming services Hulu and ESPN+, the broadcast TV channel ABC, along with a slew of cable channels.
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