The only way for it to grab and maintain market share is by producing enormous amounts of original content.
The only way for it to produce enormous amounts of original content is by borrowing enormous amounts of money.
It’s P/E ratio is 130+. It’s not profitable relative to its competitors (DIS is 19, AAPL is 15).
It can only raise its price so much before people peel off and/or growth slows down, especially in the face of increasingly stiff competition.
So what happens long term? My guess is that it’ll be acquired. Which would be another big reason to produce as much original content as possible. Its data re consumer tastes and its original content are all it will really have to sell.