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>> Netflix, the great media world disruptor, reached another picture perfect milestone Thursday, taking over the spot as the world's most valuable entertainment company. Shares of Netflix jumped to a record high, the streaming movies stock market worth topping $153 billion for the first time ever. The relatively new kid on the media block is now worth more to investors than captains of the old media guard, Walt Disney and Comcast.
As Reuters' correspondent, points out, Netflix stock market coronation underscores the massive changes. That has taken place in the media world since Netflix was just a Silicon Valley startup.>> Binge TV watching hadn't really been invented yet but 15-16 years later, the world has changed. Many, many people who used to subscribe to cable no longer do, people go to movie cinemas much less often than they used to and they're staying home and watching TV online.
>> Propelled by a blitz of original programs and 125 million global subscribers, Netflix's stock has surged 80% so far in 2018, more than any other company in the S&P 500.>> Netflix is really viewed on Wall Street as a hyper gross doc, it's expected to grow its revenue by around 30 or 35% over the next year, and investors are willing to pay top dollar.
By comparison, you have Walt Disney which is now a company that's over a century old, it's still got a lot of entertainment assets. It owns Star Wars, it owns Pixar, it owns amusement parks all over the world but it is not growing as quickly as it once did.
>> Disney's planning on a Netflix-type service of its own while at the same time prepping for a possible bidding war with Comcast for assets owned by 21st Century Fox. Leaving room for Netflix to hang on to it's blockbuster status.