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SCOTT GALLOWAY: Netflix could be the next $300 billion company
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Scott Galloway is a marketing professor at the NYU Stern School of Business and the founder of business intelligence firm L2. Galloway, appearing on the latest episode of The Bottom Line with Henry Blodget, explained why he thinks Netflix will be the next $300 billion company.
Following is a transcript of the video.
Netflix is a juggernaut and it’s probably the most likely candidate to join the Big 4 — Amazon, Apple, Facebook, and Google. They’ve been able to become an operating system for a key component of our lives. Whether it’s connecting with people, operating system for consumption of products, which is Amazon, operating system for answers or praying to a God, which is Google. And Netflix has sort of — has a shot at becoming the operating system for joy in our life.
Millennials spend more time watching Netflix than they do all of cable TV combined. The scary thing for Netflix is that Amazon, whose core business isn’t even streaming video is going to spend $5 billion on original content this year, more than NBC or ABC at $4 billion or HBO at $2.5 billion. Netflix is at $6.5 billion.
But it shows you the power of having a company that doesn’t need to be profitable like Amazon with that type of market capitalization. When they can go toe to toe with the Muhammad Ali of home entertainment, Netflix, and spend almost as much, Netflix has a shot at breaking out and becoming a $300 or $400 billion company because of its dominance in that one sector but I would be looking over my shoulder at Amazon.
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