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Sorry, Hollywood. Netflix rules the media world

Netflix is arguably the king of media now.After it took home its first Academy Award for the documentary "Icar...

Posted: Mar 6, 2018 12:19 PM
Updated: Mar 6, 2018 12:19 PM

Netflix is arguably the king of media now.

After it took home its first Academy Award for the documentary "Icarus," Netflix's stock surged nearly 5% on Monday and another 2% Tuesday to an all-time high.

But Fox, Disney, Time Warner and Comcast's Universal each took home multiple statues -- and they didn't get the same Oscars bump. Their shares lagged the broader market's gains -- most gained less than 1% Monday while the Dow rose by nearly 1.5%.

Meanwhile, Netflix is worth $140 billion -- about the same as Time Warner and Fox combined and only $16 billion less than Disney. (CNNMoney is owned by Time Warner. Disney is in the process of buying much of Fox's entertainment assets.)

Netflix is producing tons of its own hit TV shows that its more than 117.5 million streaming subscribers around the world can't wait to binge watch. (I've got a date with my wife to start Season 2 of "Jessica Jones" this Friday!)

Related: Netflix looks all over the world to feed a growing audience

Movies are almost an afterthought for Netflix subscribers given the plethora of the company's original content. ("Stranger Things." "The Crown." "13 Reasons Why.")

There's even going to be a final season of "House of Cards" without Kevin Spacey that will focus on the presidency of Robin Wright's Claire Underwood. And an ad for it premiered during Sunday's Oscars telecast.

You can't watch any of the major Oscar winners on Netflix yet. "Coco" is on Apple's iTunes. So are "Three Billboards Outside Ebbing, Missouri," "Darkest Hour" and Dunkirk, which are also available on Amazon.

But it doesn't matter. This the "golden age of TV," which is a problem for both big studios as well as major movie theater chains AMC and Cinemark.

Still, it seems that Wall Street is actually underestimating Netflix.

Sure, the stock is now up nearly 70% this year and trades at a sky-high valuation of 117 times 2018 earnings estimates. But the highest price target for Netflix is now just $330 a share -- only slightly higher than the current price of around $320.

Macquarie analyst Tim Nollen raised his target to $330 on Monday while BTIG's Rich Greenfield placed a $330 target on the stock in late January.

Related: Netflix targets Arabic market with new original series

The rest of Wall Street has price targets that are at or below the current price.

That seems curious when you consider that analysts have boosted their 2018 earnings estimates for Netflix by 20% over the past three months and raised their earnings targets for 2019 by more than 10% as well.

What's more, analysts are predicting more impressive growth on the subscriber front as well. Wall Street expects Netflix to end this year with 141.8 million streaming subscribers, an increase of 20% from last year.

Netflix certainly faces tough competition from Amazon, Apple, the Big Media-backed Hulu and a looming threat from Disney once it creates its own streaming movie service next year and completes the Fox deal. (Disney, Fox and Time Warner are also investors in Hulu.)

But BTIG's Greenfield thinks Netflix can stay on top of the streaming world. When he upgraded the stock in January, he noted that Netflix is "in aggressive investment mode to grab market share."

Netflix is spending billions of dollars to launch new shows around the world. And the company is having more hits than misses. The subscriber growth is proof of that. So the stock's impressive run may not be over just yet.

"Our confidence in Netflix 'winning' is growing given the increasing consumer appeal of their content," Greenfield wrote.

Minnesota Coronavirus Cases

Data is updated nightly.

Cases: 609387

Reported Deaths: 7743
CountyCasesDeaths
Hennepin1262491796
Ramsey52997910
Dakota47216475
Anoka43200465
Washington27664296
Stearns22659227
St. Louis18245319
Scott17686139
Wright16518153
Olmsted13503103
Sherburne1212396
Carver1073749
Clay829692
Rice8249111
Blue Earth769944
Crow Wing687999
Kandiyohi669885
Chisago626954
Otter Tail590087
Benton585198
Goodhue485574
Douglas477781
Mower477533
Winona463552
Itasca462768
Isanti445566
McLeod434261
Morrison427762
Beltrami410163
Nobles409850
Steele400719
Polk390772
Becker389157
Lyon365054
Carlton356958
Freeborn350734
Pine337323
Nicollet334045
Mille Lacs314856
Brown308640
Le Sueur299527
Cass288133
Todd288133
Meeker265444
Waseca240723
Martin236933
Roseau212221
Wabasha20833
Hubbard197741
Dodge18943
Renville183146
Redwood178141
Houston175416
Cottonwood168124
Wadena165023
Fillmore158910
Faribault156920
Chippewa154038
Pennington153820
Kanabec147828
Sibley147310
Aitkin139237
Watonwan13619
Rock129019
Jackson123112
Pipestone117126
Yellow Medicine115320
Pope11396
Murray107310
Swift107318
Koochiching96819
Stevens92611
Clearwater89217
Marshall88817
Lake84320
Wilkin83813
Lac qui Parle76122
Big Stone6094
Grant5958
Lincoln5863
Mahnomen5669
Norman5509
Kittson49122
Unassigned48193
Red Lake4037
Traverse3815
Lake of the Woods3474
Cook1740

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 374664

Reported Deaths: 6109
CountyCasesDeaths
Polk58891646
Linn21448342
Scott20426250
Black Hawk16680319
Woodbury15319230
Johnson1473686
Dubuque13595213
Dallas1144099
Pottawattamie11307177
Story1082848
Warren592092
Clinton564393
Cerro Gordo562297
Webster538996
Sioux519174
Muscatine4920106
Marshall491479
Des Moines478275
Jasper452073
Wapello4366123
Buena Vista431040
Plymouth404982
Lee392658
Marion369177
Jones301257
Henry301037
Bremer292763
Carroll286252
Boone271234
Crawford270841
Benton262755
Washington259851
Dickinson250745
Mahaska232551
Jackson225842
Kossuth219166
Clay217327
Tama213372
Delaware211743
Winneshiek200636
Buchanan196734
Page195422
Cedar192923
Hardin191144
Wright189140
Fayette188243
Hamilton186851
Harrison181973
Clayton173057
Butler167835
Madison167719
Floyd164642
Mills163824
Cherokee161538
Lyon160941
Poweshiek159036
Allamakee155552
Hancock153134
Iowa148324
Winnebago145731
Calhoun143113
Cass140855
Grundy139333
Emmet136741
Jefferson134535
Sac132620
Shelby131838
Louisa130249
Union129535
Appanoose128049
Franklin127823
Mitchell127243
Chickasaw125717
Guthrie124532
Humboldt124526
Palo Alto114924
Montgomery106738
Howard105322
Clarke102424
Monroe100633
Keokuk99932
Ida92735
Adair89632
Davis86825
Pocahontas86822
Monona85931
Greene79111
Osceola79017
Lucas77423
Worth7568
Taylor67112
Decatur6629
Fremont64810
Ringgold56824
Van Buren56718
Wayne56323
Audubon52913
Adams3494
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