I believe the price drop is due to ditching EBITDA guidance and focusing more on investment in content. This does not worry me as the ROI for this investment in content is strong at 20-25% and it will lead to much higher conversions to product purchases in future. This is a strong investment story that I have not lost faith in. Take a look at the strong growth in the USA, and rapidly improving margins all round.
Blew the doors off it?, page-5
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