NEW YORK ( TheStreet) -- If Netflix ( NFLX) burned down, Reed Hastings will say everyone loves the Towering Inferno.
And, of course, the media -- financial, entertainment, tech, you name it -- would form a circle as investors proceed to run NFLX stock even higher. Up another 8% Monday on news of an analyst price target hike, a new original series and rumors that Netflix will become part of the cable establishment. There's nothing like a momentum stock, particularly in a world littered with macro-level uncertainty. Some alternative, albeit informed thoughts that go against pretty much everything else the Hastings-controlled State media gives you on Netflix. First on the Sony ( SNE) deal. Did you ever wonder why studios such as Sony do deals with Netflix? If you believe the Reed Hastings' propaganda machine, it's because Netflix is the future now. The traditional methods for delivering original programming are a thing of the past. Of course, that's not true. Time Warner's ( TWX) HBO and AMC Networks ( AMCX) continue to perform better than they ever have. The latest evidence: AMC's The Walking Dead scored an 8.2 rating in the 18-to-49-year-old demographic the other night. That's 10.4 million adults. The Walking Dead aftershow scored 5.1 million sets of eyeballs, including 3.3 million 18-to-49-year-olds. There's no way to describe that other than saying it's sick. Not as in anemic, but sick as in not bad meaning bad, but bad meaning good. We don't know because Netflix won't tell us, but I would be willing to wager Reed Hastings that the number of viewers to The Walking Dead post game hit is greater, by a significant margin, than the total number of Netflix subscribers who watched any of the outlet's original series at any one time. But shame on me for allowing facts to get in the way of the Netflix story. Because, after all, if it wasn't for Netflix, AMC Networks, as well as HBO, would be struggling with their originals. We wouldn't be hearing about Breaking Bad, Mad Men, Game of Thrones, The Walking Dead and other hits if Netflix wasn't there to save these fools from their uncreative selves. But, humor my alternative thesis pursuant to the original question: Did you ever wonder why studios such as Sony do deals with Netflix?