Netflix’s market value has this week increased to around $150 billion (€128.3bn); making it worth some $2 billion more than US cable giant Comcast.
Comcast has been losing video subscribers as a result of cord-cutting trends bought about by the rise in streaming services.
Comcast had 22.3 million pay-TV subscribers in the first quarter of 2018, down from 22.6 million a year earlier. Meanwhile, Netflix has been gaining subscribers, adding more than seven million in the first quarter of 2018.
The new market value puts Netflix just under Disney’s market cap of $153 billion. Many predict Netflix will soon surpass the ‘House of Mouse’ as it continues to have a strong year.