Netflix (NFLX) is rallying in-part due to worse video losses from Comcast (CMCSA) and management’s expectation for 2020 losses to be greater than 2019.
However, 2019 was the worst year we have seen in terms of video losses and Netflix U.S. sub growth stalled out. The correlation between Netflix U.S. paid sub growth vs Pay-TV is positive.
Just something to consider…
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