The Streaming Wars — the strategy behind it | Stratrix

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The Money Machine · Business Model

Streaming Broke Only the Latecomers: Netflix Ran a 22% Margin on $39B While Rivals Bled

Everyone says streaming broke the entertainment business. It didn't break everyone - Disney and WBD are back in the black. It broke the players who showed up a decade late, then had to build Netflix's scale at Netflix's prices with none of Netflix's amortization runway. Netflix did $39B in revenue at a 22% margin while rivals were still trying to stop the bleeding.