Netflix passed Comcast in market value on Wednesday, signaling another win for the streaming service as it continues to compete with traditional television.
The video streaming company also reached a record high stock price, gaining 4% on Wednesday for a total market cap of $149 billion. Comcast, on the other hand, fell close to 2% and ended the day with a market cap of $147 billion.
The new market value puts Netflix just under Disney’s market cap of $153 billion. Many expect Netflix could soon surpass the media giant as it continues to have a strong year.
The company’s stock has gone up 70% since January, and surpassed expectations for its first quarter earnings report.
It has also earned attention with new high-profile deals like its announcement this week of a multi-year agreement with former President Barack Obama and former First Lady Michelle Obama. While some fans threatened to boycott the service over the news, it was largely seen as a sign of the company’s power and ability to attract big-name talent.
aldorn on May 24th, 2018 at 07:28 UTC »
Can someone please make a sports version of netflix so we can fuck foxtel, sky and the others off.
xrixxirx on May 24th, 2018 at 00:55 UTC »
Netflix is nowhere near either company in revenue or assets
Disney vs Netflix
Net Revenue - 55.2 Billion vs 11.6 billion
Operating income - 14.8 billion vs 890m
Net income - 8.9 billion vs 550 million
Total asset valuation - 96 billion vs 19 billion
Equity - 45 billion vs 3.5 billion
Netflix is a bubble right now and it’s market cap is deceiving. They are sinking into debt to try to become a serviceable alternative to network television and cinema. And Disney looks primed to torpedo their business model in a couple of years.
peecekeepe on May 23rd, 2018 at 23:45 UTC »
Beating Disney? That sounds like a stretch