With the splashy premieres of Arrested Development and House of Cards behind it, Netflix (NASDAQ:NFLX) has entered a new phase of its business. While the streaming service will always rely on catalog content, original series are becoming critical to Netflix's future.

That push into exclusive original shows holds promise, but it also brings new risks to the business model. In the video below, Fool contributor Demitrios Kalogeropoulos takes a fresh look at Netflix. Demitrios highlights one good reason to buy shares here: the lack of serious competition over its streaming members. On the other hand, rising debt levels are a good reason for investors to consider selling shares.

Fool contributor Demitrios Kalogeropoulos owns shares of Netflix. The Motley Fool recommends Amazon.com and Netflix. The Motley Fool owns shares of Amazon.com and Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.