Earlier this month, the Wall Street Journal wrote that Netflix was planning to raise its prices once again. The streamer implemented its last hike in January 2022,...

Netflix confirms it is increasing subscription prices, again, after adding 8.8 million customers::undefined

  • egeres@lemmy.worldEnglish
    0·
    1 year ago

    When did netflix become a FAANG company? What do they have that is so valuable? To me it seems like they don’t develop any particularly incredible tech besides streaming and storage

    • Syndic@feddit.deEnglish
      0·
      1 year ago

      To me it seems like they don’t develop any particularly incredible tech besides streaming and storage

      Well they pretty much single-handedly started the whole streaming on demand service for movies and series and rapidly grew accordingly. This success even allowed them to get into the production side of the movie and series industry. They also destroyed the DVD market and stagnated the Blueray market on their own.

      Now they face more and more competitions after the other companies saw that there’s a lot of money in this. The lose of that monopoly of course impacts their success and they seem to struggle with it. But they still are a giant in that market segment. So it’s not surprising that they still are counted as a FAANG company.