Netflix Overtaking Traditional Cable
Even after missing the massive boom in stock price, I've been riding the wave of Netflix (NFLX) stock price to new heights. The TV and movie streaming service is among the most popular in the world and is constantly surprising with new ways to keep growth high -- they've come a long way from the red boxes and mail-order DVD subscription service.
Netflix has long surpassed the largest pay-TV providers in the United States in terms of subscribers, and it is now the most popular source of TV content among U.S. consumers. That’s according to a recent survey conducted by the research arm of investment banking firm Cowen & Co., which found that 27 percent of Americans prefer Netflix over any other platform, including basic cable and broadcast TV. Boding well for the company’s future, Netflix’s popularity is even bigger among younger Americans, with nearly 40 percent of respondents aged 18-34 naming the service as their favorite TV platform. Traditional TV delivery via broadcast, basic or premium cable appears to be playing a minor role with Millennials. Less than 1 in 4 young Americans name either of the three as their favorite TV platform.
Gaining brand loyalty among Millennials early is key, and that is precisely what Netflix has done. Soon it won't matter which crowds "don't get it," Netflix is definitely a stock to hold on to for the long-run.
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