Disney+ Announcement Causes Netflix To Drop $3.2 Billion

Disney+ isn't even launching until November, and it's already causing chaos for Netflix. On Thursday, after Disney's big announcement, Netflix stock dropped 2%. That doesn't sound like much, but it translates to $3.2 billion. Disney+ is going to have hugely popular content, but that's not the only thing Netflix has to worry about. Disney+ is also 7 bucks a month, or $70 a year. That's about half of what Netflix costs.  But some analysts think Netflix is going to be fine because it has a wide variety of content, while Disney+ will pretty much be family-friendly stuff.