Netflix closed the week with a market capitalization of $152.7 billion, passing for the first time Disney to become the most valuable media company in the world. Netflix passed Comcast's market capitalization on Wednesday, to become the second most valuable media company and went on to take the crown from Disney on Friday. Netflix's stock is up 83% for the year and demonstrates investors' continued faith in the growth prospect of firms they judge to be disruptive.
In regards to revenue, Netflix's $11.7 billion in 2017 is a far cry from Disney's $55.1 billion and Comcast's $84.5 billion and remains well below fellow 'FAANG' (Facebook, Apple, Amazon, Netflix, Google) stocks. Facebook, Apple, Amazon, and Google's revenue in 2017 was $538 billion, $925 billion, $778 billion and $750 billion respectively.
Netflix's Q1 revenue was reportedly $3.7 billion and net income was $290 million, up 40% and 63% respectively from last year. The company will continue its bet on original content as it focuses 85% of new spending on original programming. Netflix is expected to spend more than $8 billion on content in 2018 and contain close to 1,000 original specials, movies, TV shows and other programming on its platform by the end of the year.
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