By the end of Wednesday Netflix reached a record high market capitalisation of $152 billion, overtaking Comcast which received $147 billion and just below Disney which received $153 billion.
By the end of Thursday it’s looking like Netflix may break new records having already soared past Disney, according to Bloomberg.
Following the signing of former president Barack Obama and first lady Michelle Obama on Monday, Netflix’s stock was up to nearly 4% while Comcast was down at near 2% with Disney down 1.6% on the Thursday.
The move is indicative of how far the streamer has come to compete with traditional studios. It’s bound to be something that the company welcomes, particularly as it is beginning to brand itself as more of a media company than tech. In Netflix’s 2017 annual report, the company now describes itself as: “the world’s leading internet television company.”
As major players scramble to remain relevant in a highly competitive industry via M&A deals, it seems that Netflix is growing from strength to strength. The further Comcast pushes to outbid Disney for Fox, the further its value drops.
After confirming that Comcast “is in advanced stages of preparing” an offer for Disney its stock declined by 2.2%, showing that its bid to tackle new threats such as the FAANG digital giants may not make it as profitable.
Despite this, some have concerns that Netflix may soon become “uninvestible”, as stated by Seeking Alpha’s research analyst Erik Kobayashi-Solomon.
Hollywood insiders have told the analyst that with Netflix losing Disney’s content library, creating a mass amount of content that may not provide value in the long-term and mass spend, the company may eventually see a nosedive in the stock market.
Great Pacific Media’s High Arctic Haulers, a CBC original factual series, premieres in 2019
CBS’ The Late Late Show with James Corden will return to the UK to broadcast four special episodes from the historic Central Hall Westminster, London on June 18
John Malkovich (In the Line of Fire) and Rupert Grint (Harry Potter) are confirmed as leading stars for the latest BBC One Agatha Christie adaptation The ABC Murders
Kanal D has licensed dramas Wounded Love, War of the Roses and Time Goes By in the Lat Am region across Telefuturo, Imagen, Telemundo, Bandeiranrtes and Azteca America
FremantleMedia’s Picnic at Hanging Rock is set for its Canadian debut on Bravo on June 17
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