I think that after Q3 2020 earnings, this is the market moment when we start to see the IAC MGM Resorts Hypothesis kick in and prove itself out: specifically, ecosystems where streaming subscribers are monetized in multiple ways will scale better than other legacy media streaming models.
Why do I think this and why now?
There are three reasons:
- The Streaming Model is Not Profitable
- Scale is hard without an ecosystem (IAC MGM Resorts Hypothesis)
- Genre Matters Most to Growth (“Genre Wars”)