Netflix vs. Disney: One Is Winning the Streaming War. Other Is Not Even Close

4 hours ago 1

Vandita Jadeja

Tue, April 14, 2026 astatine 8:46 AM CDT 5 min read

Netflix (NFLX) reported Q4 2025 gross of $12.05B, up 17.6% year-over-year, with paid subscribers reaching 325 cardinal and advertisement gross much than doubling to implicit $1.5B for the afloat year, portion operating income grew 30.1% to $2.96B.
Walt Disney (DIS) posted Q1 FY2026 gross of $25.98B, up 5.2%, with streaming (Disney+ and Hulu combined) generating $450M operating income astatine an 8.4% borderline and taxable parks delivering a grounds $10.01B successful Experiences revenue. Lionsgate (LGF) and different contented creators look unit arsenic some streamers standard archetypal programming costs.
Netflix’s cleaner strategical absorption connected advertising, unrecorded sports, and gaming is driving accelerating margins and 41x trailing net valuation, portion Disney’s complexity crossed parks, streaming, ESPN’s caller DTC service, and dense contented concern constraints currency travel and keeps the institution astatine a 15x valuation contempt existent property durability.
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Netflix (NASDAQ:NFLX) reported 4th fourth 2025 gross of $12.05B, up 17.6% year-over-year, portion Walt Disney (NYSE:DIS) posted archetypal 4th FY2026 gross of $25.98B, up 5.2%. Both vie successful streaming, but their strategical momentum has seldom diverged much sharply. One accelerates; the different manages complexity.

Netflix's 4th was clean. Paid subscribers crossed 325 million, and the advertisement concern delivered: advertisement gross much than doubled to implicit $1.5B for the afloat twelvemonth 2025, with absorption guiding it to astir treble successful 2026. Content drove engagement. KPop Demon Hunters reached 325 cardinal views, making it the astir fashionable movie successful Netflix history.

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Happy Gilmore 2 drew 126 cardinal views and Wednesday Season 2 pulled 114 million. The Canelo vs. Crawford boxing lawsuit attracted 41 million-plus viewers, validating unrecorded sports strategy. Operating income grew 30.1% year-over-year to $2.96B successful Q4 alone.

Business Driver

Netflix (Q4 2025)

Disney (Q1 FY2026)

Revenue Growth (YoY)	+17.6%	+5.2%
Streaming Margin	~29.5% (FY2025)	8.4% SVOD
Core Profit Engine	Streaming subscriptions + ads	Theme parks (Experiences)
Free Cash Flow	$9.46B (FY2025)	-$2.28B (Q1 FY2026)

Disney's 4th was much complicated. The header bushed was real: adjusted EPS of $1.63 bushed the $1.58 estimate. But the nett motor remains taxable parks, not streaming. Experiences gross deed a grounds $10.01B, up 6%, with home parks generating $6.91B and planetary parks $1.75B.

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