Just a few years ago, Netflix's (NASDAQ: NFLX) big content spending meant free cash flow was consistently negative. Fast forward a couple of years, and the company is measuring this cold, hard cash in the billions. The streaming-service specialist is at an inflection point when it comes to profitability -- and this inflection point will likely be even more evident going forward.

Generating positive free cash flow is likely music to shareholders ears. It's been about 10 years since the company embarked on an aggressive strategy to invest in original content. A decade later, the once-risky strategy is now looking quite genius in hindsight.

The company's content library now features many must-see films and shows, some of which have global appeal. Better yet, Netflix has now achieved the necessary scale to sustain its current output of high-quality content profitably.

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Source Fool.com