Like cable, you’ve got lots of listings, but relatively few that are worth paying for.
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Last week, Netflix announced that it, in its last quarter, lost 200,000 subscribers when analysts were expecting a gain of more than 2.5 million users.
Whoa, Nellie.
That’s a “statistically significant” miss for sure … not a smaller than expected gain, a loss!
And, the company gloomed that it will lose another 2 million in its current quarter.
Understandably, “the market” was “disappointed” and immediately shaved a cool 1/3 off the Netflix market cap.
Hate to pile on, but that’s on top off a prior (and bigger) 1/3 drop earlier in the year.
So, what’s the problem?
NFLX management chalks it up to to password-sharing … to many freeloaders who aren’t paying for the value that they’re getting from the NFLX “product”.
I beg to differ.
I think NFLX has an inflated view of how much continuing value it delivers … and, even if that’s not true, it’s value is eroding by the day.
Let me explain.
The Homa Files 