Netflix shares have roughly doubled in the past year, setting a high bar for future growth as its market capitalization overtakes the valuations of rivals Disney, Comcast, Warner Bros. Discovery, and Paramount Global combined.

Shares of Netflix rose 13% in afterhours trading as investors cheered the company's first U.S. price hike since 2023. The streaming service's move aims to capitalize on surging demand and sharp subscriber gains in the fourth quarter.

Netflix shares moved firmly higher in early Wednesday trading, and look set to pass the $1,000 mark for the first time on record, following a blowout set of fourth quarter earnings that cemented its lead as the world's biggest streaming group and triggered a flurry of upgrades from analysts on Wall Street.

Netflix is raising prices, a disclosure made in its fourth-quarter earnings report, which showed live events driving its biggest subscriber gain in history. Why it matters: The streaming giant bet big on its first two NFL games and a boxing match between Mike Tyson and Jake Paul in the fourth quarter — plus a new season of the scripted show "Squid Game.

Netflix stock (NFLX) surged, after the streaming service reported the highest-ever level of quarterly subscriber gains and said it plans to raise U.S. prices across the board. In recent premarket action,