Has the company not already declined? I've been subscribed for years, but I cant remember the last time I watched something on it. The next time I do a round of canceling subscriptions, there is a very real chance it's gone. I have so many other subscriptions, I'm just not sure it's important enough to me anymore to make the cut.
I'd argue decline lags value fundumentals. Sears decline took decades. The early metric is probably "viewer hours" per customer or some use base metric. That will probably dip before the revenue dips.
Zoom out on the chart. Sear's stock looks nothing like Netflix. Sears was killed by totally different circumstances.
We're at covid peak ATH again. Anyone who bought the dip in 2022, is looking like a genius with fantastic gains.
The more money Netflix has, the more they invest into better content. People look at the base metrics, which is why they are investing... along with a healthy dose of dump money into stonks that are earning more than interest rates. Once the fed starts to cut rates, things go even higher.
I don't think Netflix is for you and me. I can't remember the last time I watched a Netflix show. The content is bad, the UI is bad, everything is bad compared to what I remember of the early Netflix days.
_But_ the stock is way up and their subscriber count keeps increasing. They have obviously found a formula that keeps the masses happy. And they are succeeding despite heavy competition. Can't argue with the facts.
