&gt; buying the rights for titles in a new region is expensive, so we start off with a giant loss on the balance sheet. But as we get more members we&#x27;ll be able to buy more content in each country<p>Sorry to pick on your comment, but I resent (maybe a strong word) businesses telling me things like this: Unless you&#x27;ll give me something extra when you make massive profits (a discounted subscription? shares?) then don&#x27;t expect me to make sacrifices for you when you have losses or cash flow problems. Why should I fund your business? Am I an investor? Where is my return? You&#x27;re selling a service for a price; if the service has problems, the reason why generally is not the customer&#x27;s concern - that&#x27;s an internal issue.