THB ICYMI: The 10 Myths of Streaming

Not enough people read this. It’s a lot. But it’s post-Super Bowl and not posted late at night, so let’s try one more bite at this apple before I let it disappear into the sinkhole of my newsletter history.

You Need To Ramp Up Spending Wildly To Attract An Audience

Where did this one start? What was the foundation?

Netflix.

Like so many things that Wall St and The Media have wrong about this unstoppable evolution to television from “linear” to streaming, the example of Netflix led them down the primrose path.

Analysts like “Always Wrong” Rich Greenfield, still giggling like a child with a crush over Netflix and its success (and his building of a profile based on being the #1 Netflix fanboy), saw Netflix growing its annual spend and then came up with a magical and unsupportable projection of how many households Netflix could expand into worldwide, and leapt to the argument that as growth continued, spending would continue apace and this would be good business.

But Rich forgot that gravity …