Only two days after announcing a partnership with Virgin Media, Netflix shares have increased by 4 percent in early trading. The deal with Virgin Media, which will see the addition of the Netflix app to Virgin Media TiVo set-tops, is being viewed by many as a pivotal next step in the often tense relationship between cable TV and online streaming platforms.
Now valued at $307 (and rising), this increased value surpassed the previous high of $304.79, which occurred in 2011 just before Netflix decided to fracture its rental and streaming services into two separate departments.
This is a massive boon for Netflix who are only recently recovering from a record low of $52.81 after a series of near-fatal decisions. However, since the introduction of widely acclaimed original programming and increased expansion overseas, Netflix stock has risen 447 percent in just 12 months.
For many, this partnership with Virgin Media is another step in establishing Netflix as a legitimate, HBO-style network. If this is the direction Netflix is trending in, clearly it seems to be the right one.