If you invested $1,000 in Disney 10 years ago, here's how much you'd have now via CNBCMakeIt
Media giant Disney announced its new video streaming platform and Netflix competitor, Disney+, last week. Its stock went up by as much as as 12% and enjoyed its best day since May 2009.And if you invested in the company 10 years ago, you would have made a profit: A $1,000 investment on April 15, 2009, would be worth more than $7,600 as of April 15, 2019, a total return over 660%, according to CNBC calculations. Over the same period of time, the S&P 500 was up 240%.
Jim Cramer, host of CNBC's"Mad Money," was excited about the company's potential:"How can you not take it? It's a reasonable price. You have an unbelievable library. We have all bought these. ... I've bought every single property of Disney. [For] my kids, it just was kind of a rite of passage," he said.
Some analysts believe Disney's goals are too lofty and that it will be difficult for their streaming service to disrupt major players like Amazon and Netflix."We do not view Disney+ as a strong alternative to Netflix," Matthew Thornton, a tech analyst at bank holding company Suntrust, said in a note."Disney+ features family content, while Netflix offers a much broader range of content with the majority of the most-searched content on the platform.
Disney, which also owns streaming service ESPN+, says by offering both new content and old favorites, it expects to reach between 60 million and 90 million subscribers by 2024, with a third of those subscribers being domestic and two-thirds being international.
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