Tuesday, 18 January 2022

Netflix becomes world’s most valuable media company

LONDON: Netflix’s share price has surged by 33,000 per cent since the company went public back in 2002 however recently the company’s shares hit $153 billion and overtook Disney to claim the spot as world most valuable media company, currently valued at $152.8 billion

Earlier in May, the streaming giant Netflix temporarily became the world’s most valuable media company after its stock market value topped rival Disney, however, in June according to a report published by Bloomberg Netflix gained an impressive lead over Disney and Comcast, who now stand at second and third position respectively.

Over the past year, Netflix’s stock has increased 80 per cent – more than any other company in the S&P 500 – while Disney’s shares are down 5 per cent.

The divergent fortunes of the world’s two biggest media companies have come amid major changes in the entertainment industry as consumers opt more and more for online streaming services over traditional ways of watching films and television.

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