According to an estimate by Barclays, Disney’s streaming business is already being valued by investors at more than $100 billion.
Barclays estimated the value of the streaming services (Disney+, Hulu and ESPN+) by calculating an enterprise value for the core business of Disney, and then subtracting that estimate from the company’s current total enterprise value of roughly $320 billion. Enterprise value is a measure that combines market cap with short- and long-term debt.
Barclays pegs Disney’s core business (movie studio, parks, etc) at $213 billion. That leaves Disney’s direct-to-consumer streaming businesses worth around $107 billion to $108 billion.
Disney has a market cap of about $260 billion, while Netflix is at about $144 billion.