While Disney and Comcast appear headed for a bidding war to acquire most of Fox’s assets, both companies have been outvalued by another media giant: Netflix.
The streaming service’s stock market valuation rose to $151.6 billion today surpassing Disney’s current market valuation at $151 billion. Yesterday, Netflix rose above Comcast which is currently valued at $144 billion, and the streaming service is showing no signs of slowing down. This makes Netflix officially the largest traditional media company in the world, having already risen above Warner Bros., Fox and Viacom.
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Netflix has seen extraordinary growth in recent years continuing to add millions of subscribers around the world even in the face of last year’s subscription costs increase and the rise of rival streaming services such as Hulu and Amazon Instant Video.
A big factor is the company’s push for more exclusive, original content as other media conglomerates such as Disney and Warner Bros. plan to expand their own streaming services. This includes critically acclaimed series such as Stranger Things, Glow, and Lost in Space in addition to upcoming series including The Chilling Adventures of Sabrina, The Witcher, and The Umbrella Academy.