Consumer-reliant companies have suffered steep declines in their share prices this year as rises in inflation have caused countless households to cut discretionary spending. The streaming industry has felt this slowdown immensely, with the market's titans watching their stocks tumble considerably since January.  

As one of the founders of streaming, Netflix (NASDAQ: NFLX) shares have plummeted 52% year to date. After spending over a decade having a near monopoly on the industry, the company has been battered and beaten by increased competition from companies such as Disney and Warner Bros. Discovery. 

Despite its fall from grace amid a stock market sell-off this year, Netflix remains a great buy for the long term. Here's why. 

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Source Fool.com