Lou Whiteman

Netflix sees an opportunity here.

Netflix sees, I think, an amazing opportunity to get a great content library in a world where it's getting harder for them to license because everybody has a competing product.

Nobody wants to give Netflix their content anymore.

Yes, it's a lot of debt.

Yes, it's a lot of risk.

Yes, we'll see what regulators have to say.

But this makes sense.

And I think as a consumer, I probably like this outcome too.

So there's a lot of wow here, but I think a lot to like.

Definitely true.

I would say, though, it matters what you buy.

I see more logic here.

Disney, Fox, I see what they were doing, but I do think the target matters and the target is better.

Travis, on the pricing thing as a consumer, all I'd notice is that if you actually do want this content, I doubt Netflix raises their price by $11 per month.

The minimum to be a Warner Brothers streaming customer was $11 per month.

I think that speaks to the optionality here.

Some of what the studios are upset about, will movies go to the theaters anymore, some of those questions, I think Netflix can give in on that pretty easily and maybe

But let's look at the other way.

And maybe I'm being too Pollyanna here, but does the bigger studio presence mean that it makes more economic sense to sort of lean into the theater as another source of revenue?

Right.