Netflix's New Chapter
I'm gonna attempt to break this down:- Netflix has 5-6 Billion USD free cash flow, and because they got what debt they do have under favorable terms, they are positioned to retain most of that free cash flow- Disney, Comcast (Peacock), CBS/Viacom and other media corporations are saddled with debt, and are all losing money on their own independent streaming businesses. Likely untenable in their shareholder model- Therefore, Netflix needs to do what it can to retain / attract subscribers, but essentially can wait until the other services have to give up due to costIn a nutshell, Netflix is poised to play more long game, due to cost structures of their competitors.so fair, sounds good, but it assumes the boards / leadership of these companies won't also play a long game, seeing some sort of profitability horizon is they cannibalize their existing businesses for sticky services (like streaming). I could see Disney doing this, to some extent, with their cable TV channels and movies. I'm less bullish on Comcast/NBC, CBS/Viacom or really any other media company being able to do this, simply because they don't have the "staying power" Disney does.This also fails to account for the strength of HBO Max (very strong sub numbers)