With a market capitalisation            times its current annual net income, Netflix suddenly finds itself scrambling to justify its price-to-earnings ratio. The July            earnings call knocked            off the market capitalisation of the poster-child of the streaming era in a matter of two days – equivalent to the entire market capitalisation of Snap Inc, another former darling of the tech and media landscape. Peak streaming is meeting peak attention and the clash is pronounced and severe for Netflix. With well-funded direct to consumer            threats just around the corner, Netflix needs to recalibrate both its engagement and its revenue mix to win over the next            million.

Companies and brands mentioned in this report: Apple TV+, Assassins Creed, Cambridge, Disney +, Game of Thrones, HBO, Kahn Academy, Master Class, Mirriad, MIT, Netflix, Nike, Open University, Snap Inc, Stanford, Stranger Things, Warnerflix, WarnerMedia