Another big concern is the increase in costs from paying for content, especially if Netflix cannot sustain the same hit level as its early efforts.
Global expansion, which is more costly and drags on profits, is also a concern. Netflix has said it would complete its international efforts in the next two years.
Netflix also faces a new wave of intense competition in the United States as a number of tech and media companies introduce streaming services. That includes HBO, which recently started HBO Now, which does not require a cable or satellite subscription.
via Netflix Is Betting Its Future on Exclusive Programming – NYTimes.com.