The big picture: Over a decade ago, telecom providers started to bundle their services together to increase average revenue per user. A "double-play" bundle often included internet and pay TV like cable or satellite, while a "triple-play" bundle typically included internet, TV and phone service.

When you think about it that way — that Netflix isn’t so much a network as they are a type of marketplace in which consumers can give their attention to creators — it becomes apparent that Netflix isn’t that far off from Uber or Airbnb or any of the other market-makers that are transforming industry-after-industry. Netflix: 1.  Is an infinitel... See more