Conventional wisdom, in the words of MoffettNathanson Senior Analyst Michael Nathanson, calls for “a massive reacceleration in subscriber growth starting in Q4,” flowing into 2022 with some 28 million new Netflix subscribers.
But, what if that conventional wisdom is wrong, Nathanson asks.
He’s not alone. Shares tumbled at the start of Wednesday’s trading session on the Nasdaq, and were off 4% as of 11:15am Eastern. With more OTT competition and a big slowdown in subscriber growth, is churn a concern — making Sirius XM a sounder investment than the “House of Cards” streaming video pioneer?