Netflix, a company that has existed very much in the public eye, had stock prices hit $400/share yesterday, which means that the company is worth $24 billion. If ever there was a sign that investors (the ones with the most at stake in Netflix’s success) believe that the company can stand up to competition from Hulu, Amazon, and cable, this is it.
Things weren’t looking so awesome for Netflix a couple years ago when they raised their fees when they separated the DVD-by-mail and streaming services, essentially doubling the price if you wanted both. They then named the mail service Qwikster and did a whole bunch of questionable PR stuff that made people think they had snatched defeat from the jaws of victory. Here’s the rundown of 2011 for Netflix.
All that’s in the past, and Netflix is fighting the good fight against cable companies, who are seeing people jump ship in record numbers.
If Netflix can get their act together in the realm of live sports streaming, we’ll really be getting somewhere.