Netflix’s Crash Triggers Concerns for Spotify Too

Netflix’s Crash Triggers Concerns for Spotify Too
A sign is posted in front of Netflix headquarters in Los Gatos, Calif., on April 20, 2022. Justin Sullivan/Getty Images
Benzinga
Updated:

Netflix, Inc’s share price crash has pulled down other media stocks emulating the streaming giant’s moves. Spotify Technology S.A. valuation is also losing its mojo even before Netflix’s crash, the Financial Times wrote.

Spotify’s market capitalization is about twice its 2021 revenue, while Netflix’s market cap is about three times its 2021 revenue.