Netflix is Fending Off Its Competitors in Streaming
The California film and television streaming company is weathering extensive competition from both Hollywood and Silicon Valley. It is now attempting expansions into sports, games, and blockbusters.
With a market capitalization of about $300 billion as of August 2024, the most valuable media and entertainment company in the world is the U.S. company Netflix (NFLX).1 It distributes media content, primarily films and television series, through its eponymous on-demand subscription-based online streaming service. Today, the company has nearly 300 million subscribers to its streaming service across 190 countries.2 Netflix is also a producer of content, not just a distributor. In July 2023, Netflix original productions constituted 55% of the total number of titles available in its U.S. content library.3 The success of recent original productions—such as Don’t Look Up—as well as productions which achieved global popularity through their distribution deals with Netflix—such as Black Mirror—have made the company an increasingly important cultural tastemaker worldwide.