Netflix (NFLX) is rising to new highs as linear television dies. For example, Mr. Market paid $411.69 on 31 October 2023. People will ask if Netflix is worth $411.69?
Perhaps, Netflix was the largest streaming TV service, with 247.15 million paid subscribers worldwide in the third quarter of 2023, Statista estimates. Netflix’s paid subscriber number rose from 238.39 million in the second quarter of 2023, 223.09 million in the second quarter of 2022, 212.56 million in the third quarter of 2021, and 195.15 million in the third quarter of 2020.
Netflix had 77.32 million subscribers in the US and Canada in the third quarter of 2023, Statista estimates. However, Netflix’s largest region was Europe, the Middle East, and Africa, with 83.76 million subscribers. Plus, Netflix had 43.65 million subscribers in Latin America and 42.43 million subscribers in the Asia-Pacific Region in the third quarter of 2023.
The September 2023 aggregated ratings data proves linear TV is dead. For example, America’s most “popular TV network” was a streaming service: Amazon’s Prime Video.
Prime Video had a September 2023 aggregated audience of 14.435 million, National Media Spots calculated. Comparatively, the largest broadcast network, NBC, had a September 2023 aggregated audience of 4.162 million. Meanwhile, the most popular cable network, ESPN, had a September 2023 aggregated audience of 2.745 million.
Thus, Netflix and Amazon (AMZN) have won the television wars. Streaming services have replaced cable and broadcast television (linear TV) as America’s entertainment medium. When ordinary people reach for the remote, it is the streaming remote.
Therefore, to many viewers, Netflix is television. Other companies like Disney (DIS), Paramount (PARA), and even the mighty Amazon (AMZN) are imitating Netflix’s business model.
However, Netflix (NFLX) was the second largest subscription streaming TV service…