Netflix’s market cap is now larger than Comcast, which is pretty much just a symbolic thing given that the companies are valued very differently but is like one of those moments where Apple was larger than Exxon and may be some kind of watershed moment for technology. Or not.
A couple notes on this largely symbolic and not really important thing:
- Netflix users are going up. That’s a number that people look at. It’s why Netflix’s magic market number is going up.
- People are cutting cable TV cords. Netflix has no cable TV cords. It does, however, require a cord connected to the internet. So it still needs a cord of some sort, unless everything goes wireless.
- Netflix is spending a lot of money on content. People consume content. Cable is also content, but it…