SAN DIEGO (TheStreet) -- Here's a reality check: I've been on the wrong side on raising red flags over Netflix's (NFLX) - Get Netflix, Inc. (NFLX) Report metrics, which have been trumped by a stock that prices the company as a monopoly with pricing power.
Last quarter's strong subscriber growth helped fuel investor confidence.
But as for investors -- one small detail is missing: What are the costs?
I get it: Strategically Netflix may not want to disclose prices until it has negotiated similar deals with all other cable companies and Internet service providers.
Still, analyst after analyst is saying that deals like this will ultimately lower Netflix's costs.
Maybe they will but... until the costs are disclosed, the ultimate impact is anybody's guess.
P.S: I'll be doing a live meet and greet and Q/A at TheStreet's New York headquarters this Wednesday. It's in conjunction with my new Reality Check newsletter. It's invitation only. For more information contact ChairmansRSVP@thestreet.com.
-- Written by Herb Greenberg in San Diego
Herb Greenberg, editor of Herb Greenberg's Reality Check, is a contributor to CNBC. He does not own shares, short or trade shares in an individual corporate security. He can be reached at firstname.lastname@example.org.