Netflix (Nasdaq: NFLX) shares are lower amid cut expectations from peer Outerwall (Nasdaq: OUTR) Monday night. But, that doesn't mean things are nearly as bad for the streaming video giant.

BTIG pointed out Monday that Netflix altered its Long Term View, which was an outlook given by CEO Reed Hastings in April 2013. Analyst Richard Greenfield points out the following changes:

• We are a movie and TV series network. Replaced We are movies and TV shows.
  
  
• Significant increase in time devoted to original programming strategy. Added a statement about original programming, This helps both retention and acquisition of members in a way that previously seen series do not
  
  
• On its original series offerings: Any network creating content would be proud to have these series, and for us to be five for five is part great execution by our team and part the power fo our large on-demand platform
  
  
• Is becoming more lenient with its program spending. Previously, Hastings said Netflix would spend 10 percent of revenue on original programming, but he says we'll steadily grow our original content spending.
  
  
• Sees a broader set of competitors: We compete very broadly for a share of members’ time and spending added against linear networks, DVDs, other internet networks, video games, web browsing, magazine reading, video piracy, and much more
  
  
• On being able to grow margins 400 basis points per year: As long as we continue to grow as we have been, we are likely to be able to continue this margin expansion. Whereas before it said: While we continue to grow rapidly, we are likely to be able to continue this margin expansion.

Old long-term view here.

New long-term view here.