Netflix: The Future of Entertainment or House of Cards?

Netflix has changed the entertainment business in the last two decades. Starting as a disruptor in the video rental business, it has adapted to new technologies and changing user tastes, to becoming one of the largest movie content producers in the world, while accumulating more that 117 million users globally. In this session, I look at where Netflix stands now, and try to value it using a subscriber-based model. While my value is well below the price, I argue that the key value driver at Netflix is content cost growth. Slides: Blog Post: Valuation: