Netflix To Follow Disney's Hulu In Releasing Its Own Documentary On Britney Spears

Netflix Inc NFLX is planning a documentary on pop icon Britney Spears following the release of a much-talked-about feature on the singer by Walt Disney Co’s DIS Hulu this month, Bloomberg reported Monday. 

What Happened Filmmaker Erin Lee Carr, renowned for her work on criminal justice documentaries, is directing the work on Spears, according to Bloomberg.

The Carr-directed project has not announced a release date but was already in progress before “Framing Britney Spears” debuted on Hulu.

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Why It Matters: Previously, both Netflix and Hulu released films on the luxury music festival known as the Fyre Festival, which ended disastrously, noted Bloomberg.

This month, Disney+ streaming service topped 26 million subscribers, as per the company’s fourth-quarter results. 

“We believe our direct-to-consumer services, including Disney+, ESPN+ and Hulu, position us well for continued growth in today’s dynamic media environment," said Disney Roberg Iger.

Netflix reported global streaming paid memberships at 203.66 million, a 21.9% year-over-year gain, as per its fourth-quarter earnings release.

Price Action: Netflix shares closed nearly 0.2% lower at $556.52 on Friday. On the same day, Disney shares closed 1.7% lower at $187.67 and fell almost 0.4% in the after-hours session.

Related Link: Apple Has 'No Excuse' To Be Trailing In SVOD Space, Netflix Co-Founder Says While Praising Disney