Netflix (Stock exchange: NFLX) Patrick W. Leugers and Mallory M. Craig-Karim

OVERVIEW Over 75 million members in over 190 countries enjoying more than 125 million hours of TV shows and movies per day, including original series, documentaries and feature films.

Thesis Netflix’s growth trajectory is robust. It continues to hit its targets for subscriber growth in the U.S. and in global markets.

Variant Perception The market is underestimating the realistic international growth potential.

International Growth, Original Programming Power POSITIVES International Growth, Original Programming Power

“Act in Netflix’s best interests.” Management Team “Act in Netflix’s best interests.”

Risks Membership attraction, competitive offerings, fixed-cost nature of content, international operations, and licensing instability

Streaming Services, Cable Networks, and Broadcast Networks Competition Streaming Services, Cable Networks, and Broadcast Networks

Legal Analysis Patent infingements

Valuation.