Let's talk about the future and for our audience of course there's still a public float out there. You are the control shareholder uh on your group is certainly um three to five years for growth I think is what you said yesterday. You sort of were pointing to people that.So what does that mean for the next couple of years in terms of what the future holds for Paramount. Is it just about reorganizing, restructuring, trying to save money. >> So uh I would say is like one we we yes we've announced obviously $2 ...

Financial Performance - Netflix's Q2 operating margin was well ahead of expectations, at 341% versus 329% expected [5] - Netflix forecasts higher margins in the third quarter of 315% ahead of the 308% Streetaccount estimate [5] - The company increased its revenue forecast for the year, reflecting the depreciation of the US dollar and business momentum [6] - Netflix roughly aims to double ads revenue this year [7] - Netflix's full-year margin guidance was raised slightly from 290% to 295% [14] Subscriber Growth & Content - Member growth was ahead of forecast late in Q2, limiting the impact on Q2 revenue [5] - Netflix has the strongest content slate, and its content leadership is widening [10][11] - Netflix's content spend is expected to increase from $17 billion to $18 billion to $19 billion to $20 billion a year [17] Advertising Revenue - Netflix likely generated about $800 million in ad revenue last year, aiming to reach $15 billion to $2 billion [9] - The US upfront is nearly complete, with the vast majority of deals closed with major agencies [7] - The company hopes to double or maintain high double-digit growth in ad revenue for the next couple of years [9] Future Strategy - Advertising revenue and live sports/events are considered significant drivers for Netflix's future growth [3] - Netflix may consider aggressively pursuing live event and sports rights [18]

Media Industry Trends - Media companies are engaging in frequent mergers and breakups, resembling a recurring cycle with potentially unlearned lessons [1][2][3] - Content remains the most crucial element, consistently valued despite evolving distribution methods and emerging technologies [4][5] - Spin-offs and breakups of S&P 500 companies occur regularly, with average performance aligning with S&P 500 returns [6] - Corporate splits can add value if they enable distinct activities or attract different investors compared to the conglomerate [7][8] - Divergence in growth and business models between segments within a company can trigger corporate splits [12][13] - Media companies merge when they fear distribution challenges, but new distribution technologies can devalue previous mergers [15][16] Sports Entertainment Investment - Sports programming dominates viewership, holding 98 of the 100 most-watched television shows in the last 12 months [17] - Sports assets maintain high value due to dedicated marketing and limited consumer time, unlike other media sectors [18][19] - Funds are increasingly investing in minority stakes in sports teams, driving up valuations [20][21] - Increased valuations of sports teams may lead to public ownership and require diverse representation at the ownership level [22][23] - Talent, particularly NFL quarterbacks, is becoming increasingly valued, potentially leading to equity ownership in teams [26][27][28]