this post was submitted on 19 Oct 2023
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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.
they never struggled. The just cannot adhere to the "eternal growth" which is different than "struggle". They were making millions. The "problem" was that they wanted each quarter to make more millions that the previous quarter. CEOs believe that there is an infinite amount of potential subscribers or even if they manage to make everyone on earth subscribe then they will eternally increase their prices every quarter. Or I don't know, maybe their system has some flaws
I get that at the time, but even back then Netflix didn't have that much valuation compared with the top of the tech companies. Sure, they are very relevant even with the rise in streaming platforms, but as far as I know they only have 1 good product, no hardware or other diversification. I don't really align ideologically with the following companies, but Nvidia, Tesla, Adobe or Microsoft could have taken that spot, they much more valuation according to https://companiesmarketcap.com/, and as I see it, they do more technological innovation
I feel like people just sticked with FAANG because it's kinda catchy, but I think if you take into account world impact/tech development/valuation/size I don't think it makes much sense that Netflix is there