Can Netflix Survive in the New World It Created?

At the moment, Netflix has a negative cash flow of almost $1 billion; it regularly needs to go to the debt market to replenish its coffers. Its $6.8 billion in revenue in 2015 pales in comparison to the $28 billion or so at media giants like Time Warner and 21st Century Fox. And for all the original shows Netflix has underwritten, it remains dependent on the very networks that fear its potential to destroy their longtime business model in the way that Internet competitors undermined the newspaper and music industries. Now that so many entertainment companies see it as an existential threat, the question is whether Netflix can continue to thrive in the new TV universe that it has brought into being.