People always claim this but have never looked at NF's financials ever. Netflix has been profitable since the early 2000s when they were still doing DVD mailers. It's the past maybe 5 years where profits really ramped up.Lol. Media subscriptions are FAR from predictable. Disney just lost $1.1B supporting their subscriptions and they owned 70% of their content outright (meaning it wasn’t net new for the service). Netflix went from break even to loosing tens of millions when their number of subs started to decline.
Even in the latest quarter when they said subs dropped 1 million users, they still made $1.4 billion profit.