Netflix is valued like a tech company, but its CEO just said it was a media company [CNBC]
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Source: CNBC
Netflix is valued like a tech company, but its CEO just said it was a media company Getty Images Reed Hastings attends Reed Hastings panel during Netflix 'See What's Next' event at Villa Miani on April 18, 2018 in Rome, Italy. Recode Many of the other big tech firms have resisted labeling themselves as media companies and instead opted for the label of "platforms" where users supply the content. Facebook Reuters have argued But as regulators and politicians have turned their eyes toward tech companies, Hastings has taken a decidedly different approach in calling Netflix a media company. "[W]e're really mostly a content company powered by tech," Hastings said, since the company spends $1.2 billion on technology and about $10 billion on video programming. Investors have generally treated Netflix like a high-growth tech company, giving it a market cap of about $157 billion on annual revenue of $15.8 billion and net income of $1.2 billion in 2018. By way of comparison, Disney Hastings' re
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