Netflix is inherently a technology firm: Media Partners Asia's Vivek Couto

Cheap debt and investors focused on growth-based valuations as opposed to profitability has driven the rise of Netflix and, to some extent, Amazon

Even as Netflix and Amazon’s revenues have grown over 30 per cent, their debts have grown by 50 per cent and more over 2014-18. Apple, Comcast and Disney did much better, with low debt levels and high growth of free cash flow. These were among other insights on the economics of streaming video from the US, China and India shared by Vivek Couto, executive director, Media Partners Asia (MPA), with Vanita Kohli-Khandekar. The Singapore-based MPA researches for and consults with some of the biggest media firms across the Asia-Pacific region and in the US. Edited excerpts:

Key insights from MPA’s research?

One,