'It's all about peer pressure. That's why [CEO] Reed Hastings is right when he says: 'the real metric is can we keep members happy,'' Jim Cramer says.
Netflix can peacefully coexist in the streaming industry even as the market braces for more competition from Walt Disney, Google's YouTube, and Apple, CNBC's Jim Cramer said Wednesday.
"It's all about peer pressure. That's why [CEO] Reed Hastings is right when he says: 'the real metric is can we keep members happy,'" the "Mad Money" host said. Netflix recently upped its subscription options to $8, $14, and $16, and the stock spiked more than 6% on the announcement in January. "Netflix is a steal. It's not just a bargain, it's what I call a necessary bargain," Cramer said."You can't say that about many cable networks, aside of course from CNBC, which is, of course, essential."No wonder people are cutting the cord.
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