Netflix Case Study: Breach Prediction

  • Threat Beta,  

Netflix Threat Beta vs. Stock Price

Background

In January and November of 2017, Netflix was the subject of two major phishing campaigns. After the second attack, Netflix invested in better cybersecurity. Until that point, Netflix had a threat better that was considered a very high risk of a breach. Currently, Netflix has average risk.

Financial Impact

There is little evidence that Netflix had a large negative financial impact from the two publicly disclosed phishing attacks. Phishing attacks, by themselves, do not constitute major breaches. When a phishing attack leads to significant data loss, the financial losses accumulate quickly.

Lessons Learned

Netflix took the right steps to invest in cybersecurity. Since 2018, Netflix decreased their risk of a Cybersecurity attack by over 80%. Recent improvements starting in mid-2019 made a significant impact on Nexflix’s risk levels.

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