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Disney and Netflix Score Big at Golden Globes, With 15 Awards

Disney and Netflix won big at the Golden Globes. Both entertainment companies are higher in early Monday trading.
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Walt Disney  (DIS)  and Netflix  (NFLX)  on Sunday led the field at the Golden Globe awards, reaping 15 trophies for their movies and TV shows.

Both entertainment giants are higher in early Monday trading.

Disney took the awards event’s most prestigious prize -- top dramatic motion picture -- for “Nomadland.” Netflix hit it big with TV shows “The Crown” and “Queen’s Gambit.”

The two companies’ streaming operations apparently rank No. 1 and No. 3 in subscribers, with Netflix at more than 200 million and Disney+ at almost 95 million. Amazon  (AMZN)  is apparently No. 2 at more than 200 million. 

The trio have established themselves as perhaps the top film and TV studios, though many other media and technology companies are competing.

Disney recently traded at $192, up 1.6%, and Netflix was at $544.20, up 1%. S&P 500 futures were up 1.1%.

Morningstar analyst Neil Macker puts Disney’s fair value at $154. He noted in a commentary last month that “in a little over a year after launching, [Disney+] has exceeded the top end of the company’s original fiscal 2024 guidance of 60 million-90 million subscribers.” Bottom line: “Disney is successfully transforming its business to deal with the ongoing evolution of the media industry.”

Macker assigns fair value of $250 to Netflix. “Netflix ended an impressive 2020 with strong subscriber growth,” he wrote in January. But “the global rollout of Disney+ and the launches of Peacock  (CMCSA)  and HBO Max  (T)  will increase churn and pressure gross adds for Netflix over the near future.”