Netflix Lost $3.2 Billion in Value After the Disney+ Announcement

Disney+ isn’t even launching until November, and it’s already causing chaos for Netflix.  On Thursday, after Disney’s big announcement, Netflix stock dropped 2%.

That doesn’t sound like much, but it translates to $3.2 BILLION(!!!)

Disney+ is going to have hugely popular content, but that’s not the only thing Netflix has to worry about.  Disney+ is also 7 bucks a month, or $70 a year.  That’s about half of what Netflix costs.

But some analysts think Netflix is going to be fine because it has a wide variety of content, while Disney+ will pretty much be family-friendly stuff.