May 24, 2018
Thanks to a record stock price, subscription streaming video behemoth Netflix quietly ended May 23 with a market value exceeding Comcast for the first time.
The same Comcast that owns NBC Universal, DreamWorks Animation and wants to own 20th Century Fox Film and British satellite TV operator Sky.
Netflix ended the day with market capitalization of $149 billion, which bested Comcast’s $147 billion market cap. Netflix opened May 24 up to $151.8 billion, which passed Disney’s $151.7 billion market cap.
With more than 125 million subscribers globally, Netflix continues to grow. The service expects to add 6.2 million subs in the second quarter ending June 30.
The service also continues to expand its creative product with the bow of “Dear White People,” “The Break with Michelle Wolf” on May 27, and announcement of future projects with former President Barack Obama and First Lady Michelle Obama.
The latter drew some pushback on social media, with several subscribers saying on Twitter they would cancel their service, according to Fortune.
Apparently, President Obama’s desire to “cultivate and curate the talented, inspiring, creative voices who are able to promote greater empathy and understanding between peoples and help them share their stories with the entire world,” being an affront to some.
Chief content officer Ted Sarandos said the Obamas are “uniquely positioned to discover and highlight stories of people who make a difference in their communities and strive to change the world for the better.”
And Wall Street agrees — for now.