網路電視內容供應商 Netflix Inc (NFLX.O)

• 股價不穩,本益比(P/E) 263倍, 太離譜

昨初步分析了優酷影音平台, 
這行業台灣遊戲公司也做過, 

但不容易.

• Netflix 是作網路電視內容提供者
• Netflix 公司背景 :  網路電視, 5700萬會員

Netflix, Inc. (Netflix), incorporated on August 29, 1997, is a provider of Internet television network. The Company has over 57 million streaming members in over 50 countries. The Company's members can watch more than two billion hours of television (TV) shows and movies per month, including original series, documentaries and feature films in Internet-connected screen. 

• 3個營運部門

The Company has three operating segments: 

1 Domestic streaming, 

2 International streaming and 

3 Domestic DVD. 

• 月費制

The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content. 

The Domestic DVD segment derives revenues from monthly membership fees for services consisting of DVD-by-mail. 

Netflix's members can watch TV shows and movies directly on their TVs, computers and mobile devices. The Company offers streaming service both domestically and internationally.

The Company's International streaming segment offers streaming service in Canada, Latin America, the United Kingdom, Ireland, Finland, Denmark, Sweden, Norway, Netherlands, Germany, Austria, Switzerland, France, Belgium and Luxembourg. Its members can play, pause and resume watching, all without commercials or commitments. Additionally, in the United States, Netflix's members can receive DVDs to their homes.

• company address

Netflix Inc
LOS GATOS   CA   95032
P: +1408.5403700
F: +1302.6555049

• Company Website:
• https://www.netflix.com/tw/

• 2013.2014.2015 營收 
• 約 USD$12億, 15億, 17億 
• 持續增加

• 獲利能力, 這幾年也並不理想, 但股價也很高, 毛利約3成, 同業裡算低的, 淨利超過 5成, 需再進一步分析 利潤哪裡來?
• 營利率卻不到5%,  這行管銷,通路成本 應是主要的cost driver. 
• 這種利潤 如果不寫公司名子 我還以為是台灣的電子業.  
• 淨利連3% 都不到
• 這公司還不成熟 但股價反映出對未來公司營運的期望.
• 趨勢網數位內容方面發展 但還不成熟.
• 這種情況和獲利結構, 跟亞馬遜, Sales force,優酷 都類似.

• 競爭者

Price	Chg
Wal-Mart Stores, Inc. (WMT.N)	$58.75	-0.10
Apple Inc. (AAPL.OQ)	$113.77	--
AT&T Inc. (T.N)	$33.75	+0.12
Verizon Communications Inc. (VZ.N)	$45.24	+0.54
Comcast Corporation (CMCSA.OQ)	$61.55	--
Comcast Corporation (CMCSK.OQ)	$62.25	--
Amazon.com, Inc. (AMZN.OQ)	$560.88	--
Best Buy Co Inc (BBY.N)	$35.31	+0.24
Time Warner Inc (TWX.N)	$71.73	+0.57
Time Warner Inc (TWX_w.N)	--

• 對台灣廠商而言

又是做硬體供應商角色, 機上盒, 液晶電視,面板.
台廠沒有領導廠商願意做網路電視平台, 
若是有,在台灣市場也是做得十分辛苦. 期待電視台轉型? 
但是什麼數位內容能黏著消費者眼球. 台廠要深思用戶體驗. 但這都不是大多數台灣公司擅長的地方.

• Neflex 面臨的挑戰仍多
• Netflix Faces Challengers in Its Push to Expand Globally
  http://www.nytimes.com/2015/10/19/technology/netflix-faces-challengers-in-its-push-to-expand-globally.html?partner=rss&emc=rss&_r=0