Netflix has around 325 million subscribers worldwide, and I'm one of them.
I really enjoy the content on Netflix, but it got me thinking: what's the maximum monthly price I'd be willing to pay before I cancel? For me, it's probably somewhere around €30 per month, and with recent price increases, we're slowly getting closer to that point. At those prices, it becomes much more attractive to subscribe only when there's something I want to watch and then cancel again.
At the same time, I also enjoy content on HBO Max, Disney+, and Prime Video (for lower prices). That makes me wonder: what is Netflix's real moat? Is it simply the strength of its content library and brand, or is there something more durable that gives it a long-term competitive advantage?
I'm considering investing in Netflix at its current valuation, but this question keeps holding me back. I'd love to hear what others think.