Today according to FierceCable Netflix is now valued at $150.32 billion on the Nasdaq compared to $147.18 billion for Comcast. This marks the first time a service like Netflix has surpassed Comcast in Nasdaq evaluation. (Note we are not counting Amazon as streaming is not their main focus.)
As cord cutting grows this trend will only continue. Reportedly ESPN is losing 17,000 subscribers every day as of April 2018. With Netflix gaining customers and traditional pay-TV services losing subscribers by the day the value of services like Netflix should continue to grow.
Comcast is pushing back by launching their own streaming service but for now its very limited and only available inside the Comcast footprint. The question now is will Comcast be able to find a way forward as their core business is declining.
Right now Comcast seems to be putting their hopes on an effort to buy FOX. This week they announced plans to make a mostly cash offer in an attempt to beat out Disney in an effort to buy most of FOX. For now, we will have to wait and see if Comcast is successful in their efforts to buy FOX to slow down losses from cord cutting.
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