Netflix hits an all-time high on the stock market, pushing the total worth of the company up to over $130 billion. The service has gone from strength to strength over the years, helping to shape the way in which TV and film fans consume media, and the popularity of Netflix cannot be denied.
After all, Netflix reached as many subscribers as cable television at the end of 2017, marking a considerable shift in how viewers want to watch TV. The service has doubled down on investing back into its library, not only expanding the library as a whole but also moving forward with even more original content. With a billion dollar investment into its own movies and shows, Netflix is gambling on its own unique content keeping things fresh.
Netflix's strategy has not only meant success in terms of subscriber numbers, but also in terms of its value on the stock market. As reported by Variety, a 3.7% stock price bump on Friday pushed the overall value up to just over $300 per share. This meant that the overall value of Netflix as a whole has now jumped to over $130 billion.
This marks a significant growth for Netflix, and an incredible 50% increase in stock value since the start of 2018, with investors rushing to capitalize on the success of the company. It also puts Netflix in a good position in comparison to some of the other giants of the media world, with Disney and Comcast at $155 billion and $169 billion respectively.
Whether Netflix can keep up this success is another matter entirely, as the stock market is a fickle beast. However, with the service looking to hit 700 original movies and TV shows in 2018, at the very least Netflix will be aiming to make its library as enticing as possible for new customers and existing subscribers alike, including new content from big names such as Luc Besson and George Clooney.
However, there could be substantially more competition in the pipeline for Netflix, beyond current rivals such as Amazon. The Disney streaming service may not be designed to kill Netflix, but it no doubt could cause something of a battle, while rumors of an attempted Apple buyout of Netflix refuse to go away. For now, though, Netflix just has to keep up its own quality and try to stay on the right side of industry trends as a whole.
Update: Netflix has won its first Oscar as Icarus took home an Oscar for Best Documentary (Feature) at the 90th Academy Awards.