Netflix shares increased by 12 percent in after-hours trading on Tuesday, surpassing CBS Corp.'s most recent market capitalization figures.
The on-demand internet streaming media service is now said to be larger than its commercial broadcast television rival, which has been regarded as an industry giant since its transition away from radio in 1941.
"We've said we are committed to running the business at global breakeven and we have ambitious plans for international growth," Netflix Chief Financial Officer David Wells told TIME.
"We'll have some bigger launches, and we've described them as meaningful and significant investments in back half of this year. So you should expect those losses to trend upward and into '16, and then improve from there."
Netflix, a company which has experienced a stock increase of over 4,000 percent in the last ten years, is poised to carve out its position as an industry leader within the next few years. The company's advertisement-free and on-demand model streaming model is said to replace the traditional linear television format on the market.
In 2013, it was reported that American viewers watched more than 4 billion hours on Netflix, technically making it the most-watched cable network.
Netflix-exclusive television series like Arrested Development and Orange Is the New Black have contributed to this success.
"Particularly, this last, fourth season, what Mitch [Hurwitz, series creator] did and how he's able to tell the story through the Netflix model -- I think it's going to redefine what television can be and stories can be and how they're presented," Arrested Development star David Cross told The Hollywood Reporter back in 2013.
"And I really think it's gonna be historic in a sense; that we're gonna look back on it in 10, 20, 30 years, and it will be a very important thing that Mitch and Netflix have done."
Netflix was founded in 1997 in Los Gatos, Calif.
