--- description: Netflix lost as much as $8 billion in market capitalization after Disney announced its new, cheaper rival streaming service, Disney Plus. title: Netflix's Market Value Dropped $8 Billion After Disney Plus Announcement image: https://static.time.com/v3/assets/bltea6093859af6183b/blt9dc3e8f5d0c135ce/698948297cdbac40ead5f565/netflix-market-value-drop-disney-plus.jpg?branch=production&width=2400&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close * [Netflix](/tag/netflix/) ## Netflix Update your preferences in [Account Settings](/account/preferences/) Close # Netflix's Market Value Dropped $8 Billion After the Disney Plus Announcement by [John J. Edwards III / Bloomberg](/author/bloomberg/) ## John J. Edwards III / Bloomberg Update your preferences in [Account Settings](/account/preferences/) Close Apr 12, 2019 3:49 PM CUT  Photo illustration of the Netflix media service provider's logo is displayed on the screen of a television on October 23, 2018 in Paris, France. Photo illustration of the Netflix media service provider's logo is displayed on the screen of a television on October 23, 2018 in Paris, France.Getty Images by [John J. Edwards III / Bloomberg](/author/bloomberg/) ## John J. Edwards III / Bloomberg Update your preferences in [Account Settings](/account/preferences/) Close Apr 12, 2019 3:49 PM CUT (Bloomberg) — Netflix Inc. lost as much as $8 billion in market capitalization in a few minutes of trading on Walt Disney Co.’s news of its upcoming — and cheaper — rival streaming service. Disney unveiled details of the service on Thursday after the close, saying it would launch Nov. 12 at a price of $7 a month or $70 a year. That undercuts Netflix, whose most popular U.S. plan costs about $11 a month. Netflix shares fell as much as 5 percent to $349.36 shortly after the open in New York Friday, sending its market as low as $152.5 billion. Analysts have been sanguine about Netflix’s rising subscription prices, which haven’t seriously dented its 60 million-strong U.S. customer base. Still, the company has rarely faced a challenge like the deep-pocketed Disney, which is willing to lose money for years on Disney+ as it moves to grab market share. Disney went the opposite way. Its shares jumped to a record high, adding as much as $25 billion in market value, for a total of about $235 billion. The entertainment giant presented Disney+ on a sound stage used to make the original “Mary Poppins,” delivering an Apple-style presentation of the online product. The service will live or die based on its content — and that’s where Disney made a big statement. Disney+ will feature an arsenal of kid-friendly programming, including 13 classic animated movies, 21 Pixar features, original series, and material from its Marvel and Star Wars franchises. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/5569495/netflix-market-value-drop-disney-plus/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/5569495/netflix-market-value-drop-disney-plus/"},"headline":"Netflix's Market Value Dropped $8 Billion After the Disney Plus Announcement","datePublished":"2019-04-12T15:49:43.000Z","dateModified":"2026-02-23T23:17:27.306Z","description":"Disney's streaming service will have Marvel, Star Wars and more","url":"https://time.com/5569495/netflix-market-value-drop-disney-plus/","keywords":["Netflix","Bloomberg","onetime"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt9dc3e8f5d0c135ce/698948297cdbac40ead5f565/netflix-market-value-drop-disney-plus.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"John J. Edwards III / Bloomberg"}],"articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt9dc3e8f5d0c135ce/698948297cdbac40ead5f565/netflix-market-value-drop-disney-plus.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Netflix lost as much as $8 billion in market capitalization after Disney announced its new, cheaper rival streaming service, Disney Plus.","caption":"Netflix lost as much as $8 billion in market capitalization after Disney announced its new, cheaper rival streaming service, Disney Plus.","creditText":"Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/netflix/","name":"Netflix"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/5569495/netflix-market-value-drop-disney-plus/","name":"Netflix's Market Value Dropped $8 Billion After the Disney Plus Announcement"}}]}] ```