Netflix is not in deep trouble. It's becoming a media company
CNN
Netflix has had a terrible 2022. In April, it said it lost subscribers for the first time since 2011. Its stock has tumbled more than 60% so far this year.
Yet its recent struggles may not be the start of a downward spiral or the beginning of the end for the streaming giant. Rather, it's a sign that Netflix is becoming a more traditional media company.
Netflix (NFLX) was originally valued as a Big Tech company, part of the Wall Street acronym, "FAANG," which stood for Facebook (FB), Apple (AAPL), Amazon (AMZN), Netflix and Google (GOOG). Wall Street once valued the company at about $300 billion — a number on par with many Big Tech companies that Netflix's business model ultimately couldn't live up to.
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