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whiplash451today at 2:05 PM1 replyview on HN

Your model might be too simplistic.

It’s more like Net Margin (Netflix + HBO) > Net Margin (Netflix | separate HBO)


Replies

Dylan16807today at 2:49 PM

Well all the content costs don't change, and they can combine CDN servers anywhere it makes sense regardless of whether it's one service or two. So revenue and margin numbers should track pretty tightly.