By Sreejith Kamalanayanan
The slogan ‘Netflix and Chill’ has become a key mantra of our lives. Netflix is quickly turning into the last word on entertainment for everyone. Now, a new report by Brand Finance underscores Netflix’s bright future. It reveals that Netflix is the fastest growing US brand of 2019.
It says Netflix’s brand value is growing by a 105% over the past year to $21.2 billion. The report says Netflix will soon become the leader in home entertainment. It could succeed in setting up a disruptive business as a universally accessible newscaster by posing big challenge to traditional broadcasting brands.
“Netflix delivers high-quality and varied programming to anyone with internet access and a credit card. The platform has embarked on a disruptive approach to media services and now has incumbents in the market looking over their shoulder,” Alex Haigh, Valuation Director at Brand Finance, told media.
Netflix has easily become a key part of our lives. The streaming giant has won our hearts with its high quality content that varies from original movies, series, popular movies, classics, and entertaining shows. Netflix movies and critically acclaimed Netflix series are high in demand.
The report names YouTube as another fast growing digital media brand of 2019. Its growth jumped 46% to $37.8 billion. YouTube improved its performance by climbing up ten notches to touch 13th spot in the US.
However, Amazon has retained its tag of the most valuable brand in the US. Its brand value touched $187.9 billion in 2019. The brand grew by nearly 25%.
Apple is in the 2nd spot at $153.6 billion and Google at 3rd with $142.8 billion. Meanwhile, Microsoft has undergone a 47% increase in brand value to $119.6 billion. It shifted its place to 4th spot.
In the case of traditional media, Disney found place in the top 10 in the US thanks to its M&A activity and diversified product strategy. After buying 21st Century Fox, the Disney brand climbed 40% in brand value to reach $45.7 billion.