Netflix is Bigger than CBS

Shares in Netflix are soaring high after another huge first quarter of 2015. In fact, the market value of Netflix has currently surpassed that of CBS Corp. This is impressive as CBS is by most measures the highest rated broadcast TV network in the US, which also boasts the nation’s most watched program: NCIS.

This just shows how awesome Netflix is and how popular they have become. At this point it becomes a question of whether any service, be it Amazon, Hulu, HBO, or cable television, will be able to rival Netflix. Normally you would think Netflix can’t compete because they use a lot of older content that has already been consumed. However, Netflix’s original programming has become very high quality.

Netflix chief content officer Ted Sarandos said the company’s “goal is to become HBO faster than HBO can become us.” There really is a race here, as HBO has launched HOB Now, which is very similar to Netflix. Also, Netflix has begun creating a great deal of original content, which rival’s HBO’s popular programs.

Earlier this week, Netflix CEO Reed Hastings also fired more shots at TV, claiming that he doesn’t want to kill HBO, just traditional TV.

He says of traditional TV: “Linear TV has been on an amazing 50-year run. Internet TV is starting to grow. Clearly over the next 20 years Internet TV is going to replace linear TV. And so I think everyone is scrambling to figure out how do they do great apps, how do they things like “Noggin” which are fantastic. That will just keep getting built up and so it’s a transition into figuring out the Internet. And the way people do that is to get involved with us, with our competitors to try to start to learn what are the new patterns and modalities because Internet TV is the way that people will consume video in the future.”

What do you think about Netflix’s success? Do you have traditional TV channels in your home?

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About DevonJ140
I am currently an Accounting Director living in New York City. I love reading and learning more about business, finance, tech, and current events.

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