JULY 19, 2020. After close last Thursday Netflix put their Q2 facts on the table. Oops, it was really their suspicions that enraged. Shares were indeed priced for perfection. They promptly plunged roller-coaster style 11% in after-hours. But the fall actually began on Monday and didn’t abate until the close on Friday.
What’d the Los Gotos-based SVOD superstar say that enraged?
Simply the expectation of “2.5 million net new adds” for next quarter–Q3. They also said the COVID crush of new subs is “tapering off.” That did it.
O.K. Well, John Quincy Adams said “Facts are stubborn things.” And NFLX isn’t the only name in SVOD town. Like Tom Cruse said in The Color of Money, “Everybody’s doin’ it.” Disney’s doin’ it–since last November. So’s Hulu, AT&T with HBO MAX. Prime too. But what about the enduring pundit love for Disney? So Netflix v Disney, when “Facts Are Stub-Crazy Things. NFLX. Disney.”
