"Going to start today with Netflix. Because Netflix added nearly nine million net global subscribers in the fourth quarter. That's a big number most of those alkyl globe. Though that's the thing added more people to the globe than they added subscribers most of those subscribers were outside the United States and shares a net flicks flex down two percent three percent really. I thought they were supposed to be up pre market. Everybody was all excited. See that's the problem with known stuff. I always tell people if you gave give me the earnings news before anyone else got it. I still couldn't make any money no way I mean. I think you're right to look at this and go so we'll wait a minute. That's a big number. And why wouldn't the stock up. It's not like the stock has been lighting the world on fire over the last six months in greater raider lousy ness of a supposedly expected in the US on the heels of the Disney Plaza and the other competition. I mean the membership numbers look decent. I should say that I'm not a whole. Not a very very big fan of of net flicks stock and missed out on all of those great gains because of it. Although I didn't mean to buy it will years ago I forgot one day and then I looked and it was like up ten percent off. Just wait I've still been waiting. The membership numbers looked decent. I went through the results. There are a few things that that stuck out. There was kind of a weird change. And how they account for views and they say they used to say program was viewed Like if you viewed seventy percent percent of a specific item like a piece of episode or movie or something and they want. They want to change that now to a different number. They didn't apparently if you watch anything at all they'll count. It is viewing it. Maybe that's only even a minute. They weren't really very clear. The point is it's going to mean that viewers are views of individual items would be up by thirty eighty five percent. Koreans neural. which isn't is it's it's not out there in the ether because the way Netflix markets and the way the whole world works virology is social social proof thing if you say hey nine million people watch this? It seems to matter and more people will want to watch it. So it's a weird kind of change that I think looks forward to you sort of trying to build more hype around around programming. Which of course is they're? They're big spend right now. All of this original programming witcher you you know is a big deal and it just too bad. It was lousy. I finished it yesterday the day before. Huge Fan of the witcher video games and the books wanted to love this. I started out liking it so lazy. In the storytelling. I got to the end like Oh this is awful and but very popular anyway so so the views thing is interesting to me because I think you're absolutely right from a marketing standpoint. It does matter. It is helpful for whether it's Netflix. Alex Hulu Disney plus anybody just traditional broadcast network to be able to say x million people. Watch this you just use your numbers by one third but I I think that if I were a show runner I would want more specific data and they work with that behind the scenes right. So they'll they'll they'll use this stuff behind the scenes. The headline material is going to be. This may be just a case of trying to be more comparable. They WANNA if if they think everybody's fudging the numbers they're gonNA they're gonNA fudge the numbers the same way so that that they can have the same kind of calm to to others The the Disney plus thing like I mentioned didn't seem to hurt them badly and You know I own Disney any by the way and everybody was the the Netflix. Call actually compare the man delorean with the witcher Which I thought was interesting because the man delorean? The the curve of interest on the Internet is measured through Google. Not High didn't spike. Like the witcher but it Kinda like spike down spike down spike. Down Week over week nobody can see me moving my finger here. I'm directing the Boston pops right. You know this audio pod yesterday but very interesting because I also think of mandatory and this is it's just really not up to the hype although the a lot better in the Mandal Orien- if you WANNA short baby Yoda you go right ahead. I heard baby. Yoda cost five. Five million dollars. Wow worth every penny. Yeah that's but Disney's got free cash flow right and this is the problem for Netflix. is they're spending all this money. Honey I asked investors at a full conference on time you know what kind of profit is net flicks make and everyone said yeah. It's usually profitable. I said WELL IF FICO free cash flow in order to not count the cost of programming against what what I would call cash profitability. You have to assume that this stuff has a long shelf life and I think that's true for some of it but I'm not sure it's true for all of it so I think the jury is still out on whether Netflix is going to actually actually turn a corner free cash flow. They do say they're working on it now. I want to close on the stock but before that I do think it will be interesting to watch. Obviously with Netflix every quarter. We're going to be watching the subscriber number. I think it'll be interesting with Disney to watch. Not only what is the subscriber count for Disney about also the international rollout mean Disney plus is only in four countries. US Canada Australia New Zealand. There was a stretch of time where Netflix was surprising. In a good way Wall Street by the number of countries countries. They could roll out to internationally so I think I said this is Disney shareholder. It's going to be interesting to watch how quickly they're able to roll that out and if they can get that done I mean Disney. Obviously please a pretty good brand name and I I wouldn't not be a buyer of Netflix at this point. I mean there's a few GonNa ask just basically where it was a year ago. Yeah and if you're looking at this like a horse race nobody can see me. I'm exasperated my arms are spread. You can own the you don't have to pick the winner you can bet on. The four horses is leading the race. You can buy all of them right and that works in this case and so I kinda like Disney better. Because it's a much broader thing at owns a lot of content and still makes cashflow if NETFLIX turns the corner. It'll it'll be huge. It's just a question of can they actually scale this cap or the you know the spending on programming naming and that's still not certain."