Netflix To Cross 400 Bln In Market Valuation If Gains Hold

Shares of Netflix soared 13 to an all-time high on Wednesday after the streaming giants big bet on sports helped add a record 18.9 million subscribers in the holiday quarter, ballooning its already sizeable advantage over other players.

The company also unveiled price hikes on Tuesday in markets including the US, aiming to boost revenue just as it shifts focus from subscriber growth to other performance metrics such as sales.

We thought it was a typo. Netflix defied the odds once again, delivering subscriber additions far beyond even the most unreasonable subscriber bogey, Bernstein analyst Laurent Yoon said.

The companys global subscriber base now exceeds 300 million, giving it a commanding lead in the streaming wars and more leverage in talks with marketing firms as it looks to grow its ad-supported business.

Netflix, already worth more than the combined valuations of rivals Disney, Comcast, Paramount and Warner Bros Discovery, was set to add more than 50 billion to its market capitalisation of about 370 billion, if gains hold.