iWorld
Netflix most valuable media company for a short while
MUMBAI: Netflix’s aggressive growth is becoming increasingly inevitable. For a brief period, the streaming giant emerged as the most valuable media company in the world on Thursday with a record high stock value. On Wednesday, it was already closely approaching Disney’s market value and the very next day it surpassed Disney’s market capitalisation. However, at the end of the day, Disney recovered enough to march past Netflix again.
Netflix ended its day up 1.3 per cent with a market value of $151.8 billion. Disney ended its day with $152.2 billion market cap. With an increase in share, Netflix reached a market value of $152.6 billion as per reports.
It surpassed Comcast’s market value on Wednesday owing to a new record high of its stock price. Netflix’s market value stood closer to Disney then. However, Disney is also becoming more aggressive in online video market to give a tough struggle to Netflix.
Netflix’s market cap milestone reflects the seemingly voracious investor enthusiasm for the company’s growth prospects. In terms of revenue, Netflix is way behind Disney or Comcast.
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