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Netflix Has Surpassed Disney As The World's Most Valuable Pure Media Company By Market Value

Shares of Netflix rose today, overtaking Disney as the world's most valuable media company.Just yesterday, Netflix surpassed Comcast in market value.

Netflix was up as much as 1.8 percent on Thursday, at one point trading at $160.9 billion.Meanwhile, Disney shares fell 1% to $151.8 billion.At the close, Netflix was up 1.33 per cent to $151.8bn, while Disney's decline narrowed to 0.78 per cent to $152.2bn.

Disney is aggressively expanding its streaming presence to compete with Netflix.Last month, Disney launched ESPN +, its first direct-to-consumer service.The service, which includes live sports and other programs, costs $4.99 a month, or $49.99 a year.The company will also launch a disney-branded streaming service next year.

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