With a cheap monthly subscription and an estimated $13 billion spent on content this year, how on earth does Netflix make money? In this installment of ‘Ringer PhD,’ we break down Netflix’s business model and explain how the company can afford its hefty development costs. Written and reported by Victor Luckerson. Narrated by Sean Fennessey. We finally have merch! Get your official Ringer gear at the web store: https://theringer.com/shop CONNECT Website: http://theringer.com/ Twitter: https://twitter.com/ringer Facebook: https://www.facebook.com/ringer Instagram: https://www.instagram.com/ringer YouTube: https://www.youtube.com/channel/UCT83YP07yVuaH9J19YABhlw