When to sell?, page-58

Well I agree with you that a profitable streaming company in Australia could be worth that much, especially if it was at that 200,000 paying subscriber level and growing strongly, but that's a very, very long way from where Quickflix is and I think the chance for them to achieve something like that has passed them by. If they couldn't achieve that when they were the only player in streaming, they certainly won't be able to do it now they have to fight with Netflix, Stan and Presto for content. They'd need a lot of money to outbid any of those guys for the type of headline content that really brings in viewers (like Better Call Saul) and money is one thing they do not have. Without new and high quality content they won't be able to draw in paying customers. Yes they may be able to get in trialists but after a month or two when they've seen all that's worth watching they'll drop off, as evidenced by the eight per cent churn rate. The company is in terminal decline, they may limp on for a while yet but ultimately I expect them to either collapse or be taken over for a miniscule price.