He's cherry picking information - the graph featured by the OP is for the US, where BIG has only started to expand our presence
@oggede, I give you credit that you have done some research, unlike the standard down-ramper (or up-ramper for that matter)
I'll give you the benefit of the doubt, and assume you want to engage in a constructive conversation
I've been invested since 2015 so it'd be fair to say I'm reasonably knowledgeable about the company
I agree with some of the points that you've raised (customer churn / renewal) that are potential risks for the company.
The company have already indicated that the revenue for customers from the same PCP has marginally declined (or even increased). This tells me one of two things:
(a) everyone that previously signed up has renewed, or
(b) those that have renewed have signed up to more lucrative packages enough to effectively offset the lost customers
Irrespective whether it's either (a) or (b), that tells me customers have valued the services they received and thus are renewing
As for the main source of income, the company have acknowledged that creating videos for SME's is not the end game. That's the first of 3 pillars, however it's the enabler for them to fund the growth and investment for pillar 2 - broader consumed content - which they've had two major brands has just sponsored (Marriott) and renewed (BA)
Now risks of new entrants, we've acknowledged that that's a major risk, As first mover, it makes more sense for someone to takeover the company and integrate it into their platform rather than starting from scratch
No company is perfect, nor does any go without risk. That's par for the course in doing business. It's how the company manages it that's important.
I don't mind seeing posts like this every so often as it challenges my thoughts and beliefs and ensure whether I'm being realistic. I'm happy to say I'm still optimistic about their prospects
Lastly, I'm curious, what do you have against Leanne Graham?
(20min delay)