Netflix and the Conservation of Attractive Profits - Stratechery by Ben Thompson

Until recently, the relative resiliency of traditional pay TV and the rapid growth of streaming have obscured the inevitability that TV will go through a similar transition. But we’re on the cusp of it now. Traditional TV is, finally, rolling over, and streaming profits won’t likely be big enough to make up the difference. Many of the downstream ef... See more

It used to be that media organizations had a big advantage by virtue of owning printing presses and delivery trucks, or broadcast licenses; celebrities and politicians would have their proclamations carried across those same mediums by virtue of their popularity or power. The same advantages applied to other areas of the economy like retail and con... See more

The Internet RevolutionI already explained what happened to newspapers when distribution erased local newspapers moats in the blink of an eye; as I suggested at the beginning, though, this was not an isolated incident but a sign of what was to come. Back in July I laid out how the acquisition of Dollar Shaving Club suggested the same process was ha... See more