- Only recently hailed as the hands-down winner of the streaming wars, Netflix's stalled subscriber growth has led to a >70% plunge in its share price, since its 2021 highs.
- Netflix is still the clear streaming leader, but the battle is now more contested than many expected. The total addressable market might also not be as vast as originally imagined.
- But with fears of a streaming apocalypse overblown, and other levers to drive improved profitability over time, Netflix looks buyable at these levels.
- Still, it will take a while for progress on an ad-supported tier and password sharing. Sideways choppiness looks like the most likely outcome for the stock price, for the foreseeable future.
- Other opportunities in the space could offer better return versus risk.
For further details see:
Netflix: The Streaming Wars Enter A New Phase