Industry News

Netflix is not in deep trouble. It's becoming a media company

8 August, 2022

Netflix has had a terrible 2022. In April, it said it lost subscribers for the first time since 2011. Its stock has tumbled more than 60% so far this year.

Yet its recent struggles may not be the start of a downward spiral or the beginning of the end for the streaming giant. Rather, it's a sign that Netflix is becoming a more traditional media company.

Netflix was originally valued as a Big Tech company, part of the Wall Street acronym, "FAANG," which stood for Facebook, Apple, Amazon, Netflix and Google. Wall Street once valued the company at about $300 billion — a number on par with many Big Tech companies that Netflix's business model ultimately couldn't live up to.

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