Yesterday, Puck News’ Matt Belloni interviewed us on The Town podcast to discuss the key takeaways from the Netflix stock crash. The full 26-minute interview is embedded below, with topics and timestamps laid out below. The interviews ties to two recent posts: Time to Sound the SVOD Alarm and Reverse Course to Arms Dealers? Is…
Virtually the entire legacy media sector has pivoted to building their own direct-to-consumer streaming services so they can have a direct relationship with consumers for the first time (historically they only distributed through third parties such as movie theaters and cable/satellite companies). Despite regularly attacking Netflix content quality and/or profitability, legacy media management teams were…
From a DVD-by-mail company to a streaming juggernaut, Netflix’s Co-Founder Reed Hastings has repeatedly proven adept at seeing the future and pivoting the company to take advantage of changes in technology and consumer demand for content. Blockbuster was going to kill Netflix, Amazon was going to kill Netflix, HBO was going to kill Netflix, and…
Here are our ten key questions investors should want answers to from Netflix management on tonight’s Q1 2022 earnings interview (our Q4 2021 questions can be found here). 1. Can an SVOD service reach 500 million subs, let alone 1 billion subs without an advertising tier? Following the news that Disney is launching an ad-supported…
Back in November 2021 (link), we questioned whether Disney’s plan for Disney+ was to be a daily must-watch destination for people of all ages or a modern-day version of the DVD wall focused on young children: “Why Is Disney Still Putting So Much High Profile Content on Linear TV? We simply cannot understand why shows…
The Third Edition of the LightShed Earnings Scorecard is out. This is our attempt to hold companies and analysts accountable for the quality of earnings calls. Sadly, there is little improvement. In this edition, we also started tracking the use of the word “inflation”. Enjoy. Coming/going We added three companies to the Q4 Edition of the LightShed…
Meta is All Alone Meta, led by Co-Founder and CEO Mark Zuckerberg, is fighting a multifront war. Worse yet, they appear to have no allies as they try to reinvigorate growth in their core business, while spending aggressively to create a future where they have more control over their own destiny as an operating system…
Investors have been seeking greater clarity on the key components of AT&T’s pro-forma free cash flow. On Friday, AT&T’s management team made a good faith attempt to increase transparency and did, in fact, fill in many key pieces. We thought it would be additive to provide our own, more detailed, “free cash flow walk” ……
But when you look at the Disney brand, the Disney+ product, we have a very high volume of films on our service, and we don’t believe that the consumer experience would be a particularly good one if we had advertising on Disney+. Disney CFO Christine McCarthy, December 10, 2020 The excitement around the launch of…
Radius Global owns and aggressively acquires the property under wireless towers. Its resulting portfolio of leases generate tower-like revenue escalators. Their acquisition opportunities have been larger and more valuable than we initially anticipated. In addition, Radius’ rent escalators are likely to rise due to the inflationary environment. We expect 30% growth of In-Place Rents in…
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