Netflix, a subscription service for mail-order and streaming movies,
has joined some of the largest and most prominent companies in the world
on the Standard & Poor’s 500 stock market index, kicking out the New York Times in the process.
It’s a pretty big milestone for the company, which has been considered a mid-cap stock (meaning it isn’t all that big) since it went public back in 2002. The company is now worth $10.2 billion, compared to the New York Times’ paltry $1.4 billion.
Netflix has seen some pretty explosive growth in recent years as it shifted toward streaming content online. Like its competitor Hulu, Netflix streams movies and TV shows for a monthly fee on its site. But the company is paying out enormous sums of cash to get access to the best content as quickly as possible. Netflix paid out $115 million this quarter, which was more than 10 times greater than the $10 million it paid in the same quarter last year.
To read the full, original article click on this link: S&P 500 index welcomes Netflix, boots the New York Times | VentureBeat
Author: Matthew Lynley
