In this clip from The Call @ Hedgeye, Communications analyst Andrew Freedman & Hedgeye CEO Keith McCullough update on recent developments with Netflix, Inc. (NFLX), highlighting the impact of the global smash hit series, Squid Game.

“I know it’s really easy to look at Squid and say that it’s an anomaly and a one-time event so we should adjust for it,” explains Freedman. “The point is that we don’t know when hits are going to come, and Netflix is producing a lot of content worldwide. Over time they’re probably going to have one or two surprise mega hits a year, which isn’t a bad thing. Is it incredibly efficient from a cash flow perspective? No, but if you are Netflix and you have the ambitions of world domination for scripted content, it’s kind of the only way.”

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