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Added on the 04/01/2019 20:31:55 - Copyright : Wochit
Netflix CEO Reed Hastings said that Disney+'s ability to cope with the pandemic and release new content is "super impressive." According to Business Insider Hastings is hoping that Netflix can catch up with Disney's family animation content, like "Soul." Netflix said it plans to expand on its 200 million subscribers as it improves it explores new distribution avenues.
On Wednesday, Netflix stock surged as much as 15%. Business Insider reports that the company's fourth-quarter earnings beat forecasts. The video-streaming service added a record 37 million paid subscribers in 2020. Netflix expects to generate enough cash to end its borrowing spree and potentially fund share buybacks.