Netflix是一家成熟公司，因市场饱和与竞争而增长放缓；其此前的快速增长阶段已经结束。

Okay, I want to talk about Netflix, the company we'll be discussing in a few moments. How many NFL games will Netflix be streaming in 2030? Part of the context here is that there are some exit clauses in the MLS contract near the end of this contract.

So, in 2030 and 2031, will they show more or less than 12 matches per year?

I'll just try to be that person here. I think the answer might be " more," but I would choose " less" because I am not sure what value all this will bring. Again, they are in a trial phase.

I'm not sure if they will ultimately say: This is the content and spending level necessary to satisfy our current subscribers. So, I wouldn't be surprised if they continued with live sports and other things, but they said, "You know what?

The NFL is n't worth the cost, especially since everyone's already subscribed anyway."

The problem with 12 games is if you think about what they're doing right now, there are Monday night games . And there are Thursday night matches that are somewhat worth watching.

Of course, as you know, the big competitor has Thursday night games on Amazon Prime. But the matches they have are very special events during holidays and the like , and I think that guarantees them a certain number of viewers.

When the numbers start reaching the tens, people run out of reasons to watch the games other than it being their favorite team, right? I believe this is one of the challenges in reaching this size.

For this reason, and the fact that we are talking about four or five years from now, I am choosing "less". I think it will be closer to what it is now.

This will be interesting to watch, because I think the NFL thinks it will get a big raise if they pull out of some of these deals, and I don't know who will pay for it.

Netflix is a digital streaming company. I thought I would watch the match after I finished eating , but on Netflix of all places, the match simply disappeared. Yes, it felt like we had gone back in time .

It's as if we've gone back in time; if you miss the match directly, you've missed the opportunity. It's crazy to me that they spend hundreds of millions , even billions, on this live entertainment, and you don't even get the benefits of streaming.

Yes, and going back to your point about what will happen with sports leagues, and to reiterate what I said earlier, Netflix is brilliant at experimenting. They are ready to try things.

I truly believe there is value in live sports to keep people on the platform. But most people are already on the platform. Therefore, there is currently limited additional income.

I mean the advertisements and maybe some people who only watch sports, but what about them? They try wrestling, tennis, boxing, football, they try everything. I would be surprised if, given their needs, they decided that the world’s most expensive sports property was the best use of capital compared to other things.

I wanted us to switch to Netflix, guys. One of the more interesting comments from their co-CEO was that they are not growing as fast as he would like. Netflix's stock has had two volatile years, yet they are still growing by 16%.

That's a very good number, but Lou, how should we, as investors, interpret that?

This is likely to be a stock that many Motley Fool investors still hold. But yes, how will Netflix grow from now on? I mean, they could try, I don't know, DVDs by mail, maybe? Will that work? Is this a good idea for a company?

Yes, but look, I mean even...look at what they tried. It seems that every time I log in, I am told that I can play games there. Hmm, I've never tried that. Hmm, they are... I've tried it.

It's...it's more difficult than you might think.

Okay, yes, I can imagine podcasts and some other things, but look, those are just additions to existing subscriptions. Much of what they are doing now is making sure we remain tied to them, rather than trying to expand the market circle.

This happens to mature companies. As you know, Netflix has grown. Its growth has slowed because most of the people who want it in the Western Hemisphere already have a subscription.

I don't know if there is a good answer other than that, as an investor, when I hear the CEO say that, I think: "Well, maybe I need to adjust my expectations accordingly."

Think about Netflix's journey since its inception. It revolutionized video rentals, Blockbuster; Then she revolutionized herself through live streaming; Then it changed the rules of the industry when it decided to start funding and producing its own content, most of its content, instead of relying solely on external parties; Then it changed its business model after years of hearing the founder say, "We will never have advertisements."

It added an ad-supported category. Then they tried, you know, it's experiments...it's a company that likes to experiment, as you said earlier on the show. They've tried things like games and other small things, but I think we forget that the industry in general is very mature.

There are some opportunities in other countries with the spread of the internet and streaming tools, and the increasing disposable income of individuals, but the way we are... The other part of it is that the way we consume content and spend our time watching it has changed in ways that do not allow Netflix's structure to adapt to it.

And the offer as well. Think about the type of content that is on YouTube. This is fundamentally not acceptable on Netflix, for a random person to set up a camera and start a channel.

And YouTube is basically... it's Netflix in terms of size already, isn't it? It is very large. Then you have Instagram, TikTok and all those other things that fill our time, and it's tough.

Netflix is the original "rule-breaker" and remains the biggest stock in his portfolio, but it was clear that it was no longer a rule-breaker. It has become a rule-maker. She is a powerful and dominant player in her industry, and in some ways I mean that's incredible, isn't it?

In terms of generating revenue. But that also makes it more susceptible to disruption in ways that could erode its features. This stems from content that did not exist a decade ago.

They just need to buy all of Disney’s studio and broadcasting assets, create one huge broadcasting company, license all the theme park intellectual property rights, and just do it.

I mean, this isn't going to happen, but this is...we're just, you know, it's over. The growth story has ended. That's okay. It's still a great company, but unless it engages in creative destruction, I don't think there's a path to the growth it wants.

My only objection here is in the world of streaming, can there be one application that controls everyone? As you know, I have young children. They can enjoy standing on the Disney app.

They can't have complete freedom on Netflix or YouTube, and I think that's important for consumers. I don't think there will ever be just one app. Because if you think about Apple, Amazon and other companies operating in the streaming field, it serves a different purpose in their businesses; Perhaps as an entry point or a means to attract customers, but it is not the primary business that should be the source of profit.

Therefore, as long as those other companies exist and will continue to exist, it will be very difficult for mergers to be the only way to win.