Netflix Shares Hit All-Time High

Owners of stock in Netflix are happy today after it was announced that the streaming juggernaut’s shares soared to an all-time high.

At the close of the business day, Netflix shares were worth $165.18, which put them up 1.3% for the day.

Netflix wasn’t the only company to see a stock rise this week. Dubbed “FANG,” Netflix joins Facebook, Amazon, and Google as the quartet of internet stocks who frequently dominate the market, and each of the other companies saw solid increases as well.

Some wondered if the stock rise could have something to do with Netflix investors responding to the cancellation of The Get Down and Sense8, both shows said to be very expensive to produce.

While it’s entirely possible that could assist in reassuring Wall Street that Netflix is attempting to be fiscally disciplined, some analysts rejected the notion as being a certainty.

Tuna Amobi, director of equity research at CFRA Research, said, “I would hesitate to infer any direct correlation between the cancellation of those two series and Netflix‘s recent share price performance, which also seems to have benefited in part from a broader market rally.”

It makes sense that Netflix‘s stock is soaring, as they are easily the most recognizable name in streaming content. Time and again they’ve proven how well they know what their subscribers want, and a brand new statistic that recently came out confirms how much they dominate.

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Earlier this year, the streaming giant hit 100 million subscribers. However, that’s not where the proof of their incredible superiority ends. In order to best explain how far beyond their competitors Netflix is, consider a comparison with one of them. For example, ESPN.

Currently, Netflix has approximately 102 million subscribers and growing. ESPN has roughly 92 million, but they’re actually losing customers.

Next, let’s look at the spending because this is where we really see how far beyond Netflix really is.

ESPN is projected to spend about $7.3 billion on content this year, which averages out to about $80 per subscriber. Conversely, Netflix is projected to spend about $6 billion on content this year, which averages out to only about $59 per subscriber.

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So, Netflix has more subscribers and they’re spending less money, by nearly half, on content than ESPN. Those are some truly astounding figures.

The high quality of their content is what keeps them on top, no doubt, but even if it was just a war of numbers, Netflix would still emerge the streaming king.

[H/T: Variety]

Photo Credit: Netflix