Netflix: The Original - [Business Breakdowns, EP. 86]
发布时间 2023-08-23 17:41:00 来源
摘要
This is Jesse Pujji and today we're breaking down Netflix. We cover Netflix's tech advantages, the state of the streaming market, and how they may start generating substantial free cash flow in the future.
Our guest is Ben Weiss, the Chief Investment Officer of 8th & Jackson. For the full show notes, transcript, and links to the best content to learn more, check out the episode page here: https://www.joincolossus.com/episodes/99430832/weiss-netflix-the-original
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Show Notes
[00:00:00] - Introduction
[00:02:14] - [First question] - What Netflix is and their size and scale today
[00:03:49] - What portion of their content is original versus pre-existing licensed content
[00:05:01] - Netflix’s founding story and the three stages of their evolution
[00:07:06] - Their culture and leadership from an investor’s perspective
[00:08:50] - Examples of courageous decisions Reed Hastings made
[00:10:08] - Overview of the streaming market and how it’s impacted Netflix
[00:11:28] - How to think about the competitive landscape as it exists today
[00:15:36] - Overview of their P&L starting from revenue and working down to EBITDA
[00:17:51] - Thoughts about unit economics and customer churn
[00:20:28] - Evaluating how much pricing power they have
[00:22:47] - How much headroom there is in the US for incremental subscription growth
[00:25:43] - Other big revenue drivers and potential opportunities to sustain their trajectory
[00:27:21] - The impact on Netflix’s churn rate when Disney Plus launched
[00:28:31] - Capital allocation and profits spent producing original content
[00:31:25] - Content spend compared to their competitors and the economics of licensing existing content
[00:36:09] - Noteworthy numbers and strategies when it comes to marketing
[00:38:19] - R&D spend and technology advantages that Netflix has
[00:45:34] - Other unique aspects about Netflix that are worth mentioning
[00:46:44] - The bull case for Netflix and what would allow for their continued success
[00:49:54] - The biggest risks for Netflix and the bear case for the business
[00:51:12] - Lessons for builders and investors when studying Netflix’s story
[00:55:10] - Where to go to learn more about Netflix
#businessbreakdowns #netflix #podcast
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