THB #160: "Leave Netflix ALONE!!!!"

Things are going to change at Netflix, going from being a $300 billion market cap company to an $82 billion market cap company.

There is more pressure on performance. There is a lot more negative energy out there about the company. Taking on more debt is not a good option (interest rates going up as well).

But here is what hasn’t changed. It still has revenues of over $30 billion a year.

Strike that! It was just under $30 billion in 2021. It will be over $30 billion for the first time this year, 2022.

Disney will still be under $20 billion in streaming at the end of 2022. Paramount Global will be fortunate to get to $4.5 billion in streaming. Warner Bros. Discovery is a newborn, but even so, total revenues are under $6 billion. Comcast doesn’t break out streaming, but their entire television revenues (broadcast, cable, and streaming) will be under $28b this year… with Peacock likely being 10% or less of that total.

So, let’s all shed some tears for Netflix. It’s obviously all over. Turn…