Netflix is king of the media
As of Thursday, Netflix is worth more than Disney and Comcast.
Netflix (NFLX) rose to $153.1 billion in market value, and Disney’s (DIS) fell to $152 billion. As of Wednesday, Comcast (CMCSA) is valued at $145.5 billion. Netflix is also worth more than Time Warner, 21stCentury Fox, CBS, and Viacom, the other major players in the industry.
The only media and telecom firms it has yet to eclipse are AT&T and Verizon, which are both evaluated at roughly $200 billion.
The media giant has proved that investing in its own original content with shoes like “House of Cards,” “13 Reasons Why,” and “Orange is the New Black” is a dominant strategy in media. They plan on investing $8 billion on original content in 2018. Additionally, they will continue to add big names like the Obamas, which recently signed this week.
The streaming service faces rivals like Hulu and Amazon Prime, but both platforms have struggled to slow Netflix’s growth. Further, 75% of Americans with a streaming service have Netflix, whereas just 33% use Amazon Prime Video and 17% have Hulu.
In fact, the closest streaming competitor to Netflix is neither of these services; it’s YouTube, with 53% of households using the video platform. However, their 22% higher user rate further emphasizes their dominance. YouTube is a freeplatform, and Netflix has a monthly fee; in fact, they recently increased their prices, and this still doesn’t seem to deter viewers.
Clearly, the streaming service continues to grow, and if it continues its strategy, they will likely pass AT&T and Verizon in the coming years. Netflix, available in 190 countries, dominates a media-driven world.
Featured image via Flickr/Stock Catalog