Thursday briefly saw Netflix (NASDAQ: NFLX) overtake Disney as the most valuable media company.
The streaming giant’s shares were up 1.8 percent taking the market value above $153 billion (£114 billion).
Netflix shares fell back and closed 1.3 percent up at $349.29.
The share price in Netflix has soared 80 percent in the past year. The firm has announced billions in investment into original shows and movies.
The group has 125 million memberships in over 190 countries, with viewers watching for more than 140 million hours every day.
This month, Netflix announced plans to team up with Michelle and Barack Obama in a “multi-year agreement” to produce films and TV shows for the firm.
“One of the simple joys of our time in public service was getting to meet so many fascinating people from all walks of life, and to help them share their experiences with a wider audience,” said Barack Obama.
“That’s why Michelle and I are so excited to partner with Netflix – we hope to cultivate and curate the talented, inspiring, creative voices who are able to promote greater empathy and understanding between peoples, and help them share their stories with the entire world.”
Shares in Disney and Comcast (NASDAQ: CMCSA) fell about 0.8 percent on Thursday and pushed their market values to $152 billion and $143 billion respectively.
