This decade kicked off what many expected to be a dogged fight for eyeballs on streaming platforms. Netflix (NASDAQ:NFLX) has enjoyed a dominant position in the streaming space over the past decade, but strong competitors have sprouted in recent years. However, the COVID-19 pandemic has changed the game in its favour. Netflix is king again, and some of its top competitors are reeling.
Shares of Netflix have climbed 27% in 2020 as of early afternoon trading on April 30. The stock is up 10% year over year. In the first quarter of 2020 Netflix scored a massive win. Netflix added a stunning 15.8 million quarterly paid subscribers against only 8.2 million expected.
However, the company warned that the winding down of the lockdowns may have a negative impact on subscriber numbers going forward.
A few short months ago Disney (NYSE:DIS) looked like an unstoppable entertainment juggernaut. Its stock has dropped 22% in 2020 so far.
The company launched its Disney Plus streaming service in late 2019. Disney reported impressive subscriber numbers to start, but the COVID-19 lockdowns have taken a toll on the entertainment giant.
The company has been forced to shutter large portions of some of its most profitable segments. This includes its theme parks. Movie theatres have been shuttered across North America and much of the world. Disney had established a dominant foothold at the box office. Top cinema companies have projected that theatres may not reopen until the middle of July.
Netflix continues to be the best streamer to own in this environment.
