After another banner quarter, the value of shares in Netflix, the on-demand streaming media distributor, have soared. The total market value is not greater than CBS Corporation, a company believed to be the the highest rated broadcast television network in the United States.

Netflix services North America and Cuba, South America, much of Europe, Australia and New Zealand. In the U.S., programming is also available as DVDs delivered by the Postal Service.

Competitors to CBS are part of larger media conglomerations. The company does, however, owns the Showtime cable channel and other assets in publishing and radio. For example, Competitor NBC is part of the enormous cable company, Comcast. The Disney empire owns ABC while Fox is part of Rupert Murdoch’s media behemoth, 21st Century Fox.

Netflix continues to be much smaller than all of these, making its higher value that CBS all the more significant as the global company remains focused on the outrageous goal of replacing outright traditional “linear” television ad-free, on-demand, programming. Toward that end, the company has not only started to license its content all over the world but also investing heavily in the creation of original programming with worldwide appeal. The service’s most popular series is House of Cards, about a political drama set in Washington, D.C.

At least one analysis a couple years ago has Netflix as the most-watched source of television and movie programming, more than any cable channel in the United States. With its robust growth track, Netflix may soon be the most watched service of any kind in the U.S. and beyond.