company nflx: The loss of licensed content, increased competition, and higher prices in the future mean investors should expect more disappointing subscriber numbers going forward, according to Market Watch. We think the stock will fall dramatically farther as more investors realize the company NFLX, -1.42% has no chance of coming close to achieving the future cash flows baked into a current share price of around 325. These disappointing subscriber numbers show that Netflix's investment in original content has failed to deliver the sustainable competitive advantage required to justify its valuation. Huge new content spending not adding enough subscribers Netflix spent 13 billion on content last year, with 85% of new spending earmarked for originals. The company acknowledged in the most recent quarter that its original content hasn't driven enough growth. For that much money, it should be more than just on track to have originals be the majority of viewing in every category.
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