Netflix’s World Vision

Is Netflix starting to feel the heat from its new competitors? Does its subscriber slowdown signal the end of “Covid winner” stocks? With so much currently riding on direct-to-consumer entertainment, the streaming giant’s first-quarter earnings report, published on Tuesday, was essentially one enormous Rorschach test for analysts and business reporters. Their myopic obsession with raw subscription growth in the U.S., as opposed to subscription economics on a global basis, reveals more about their bias than it does about Netflix, whose most profitable days may still be ahead as it now chases 800 million customers on the back of local content production. To continue reading please Sign up here or sign in to your account.