Jason Del VicarioNetflix Inc.NFLXHOLDJun 06, 2025

Streaming industry has become much more competitive. Difficulty maintaining a consistent, ongoing subscriber base (rather than intermittent), which also affects advertiser interest. Wait to see action on this issue before committing more $$.

Disclaimer:  Not owned in segregated client accounts. However, her colleague John O'Connell owns it in the equity fund that he manages.

It's had a rough year, following the failed Warners bid. He still likes it, because the business is performing quite well. They have more subscribers and revenues outside the U.S. where they have little competition and are growing rapidly. Also, they replaced the head of content, and are looking to ad sports. Lots of ways to improve growth ahead.

The fundamentals are as good or better as people have hoped. But there are worries that people are watching YouTube and no longer Netflix, but this is not in the numbers. These things reverse very quickly. Look at Google's stock. He thinks Netflix will grow at double digits for many years.

He will buy it and is watching it, now that the PE has fallen from 30x to 17x. He binge-watches Netflix and considers it far superior to other streamers. NFLX faces more competition. A great company now in a correction. It could fall a little further, but he will buy it.

He sold it in the $80s. It's not growing and he's avoiding all the streamers.

They've become a broadcaster. They need a lot of eyeballs and they don't have advertising really, well, they aren't growing that enough.

It reports next Tuesday. He expects the ad business to be strong. They need to focus on the content spend. Sports is expensive, but a Squid Game sequel will be profitable. Shares are attractively priced now.

The new content executive starts soon. NFLX is incredibly positioned. Continue to be patient. It's a fine stock to own.

He's surprise by the negative reaction from the market to the new content executive. They're focusing more on live sports. They need to find a way to create user-generate content that makes YouTube popular. But today's news is a step in the right direction.

Tough business model. Subscriber numbers drive a name like this. Generates FCF, and not many in the space do. Once you compare FCF yields in the space, this one comes out too rich. Steer clear right now.

Likes it and looking at it. Waiting for a better entry point. Headwinds to cashflows and FCF. Stay away for now, or wait to see management commentary going forward at next earnings report.

There are two big streaming companies, Netflix and YouTube. Netflix should be able to increase its subscriber growth by diversifying its business into sports, etc. There is an uptick on their paids. It does a lot of its own content and buys content very easily. You can buy at these levels.

He's a big fan (and a big fan of his son who's an actor ;). Transformed the way we looked at television, synonymous with streaming. But now so many other streamers in the market. Doesn't have the tech edge anymore, would have to reinvent itself.

They still have margin strength, still have 330 million subscribers and their ad-tier business will continue to accelerate. Also, their cash flow generation has been more positive. He gets it--slower engagement. But these positive drivers will accrete long-term.