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I bring this up to compare MasterClass to another large media experiment — Quibi. They had similarities: both of their products had high production costs. They also both leveraged some of the most talented and famous people in the world. But MasterClass did something different than Quibi: it took things step by step. Raise enough to test a hypothes... See more

Music and film, but also print publishing, magazines, and cable television, similarly face high and increasing production and marketing costs, strongly seasonal patterns, long development cycles, and hit-driven economics (more on this later). To understand how interactive entertainment has managed to grow so prosperously, we need to take a closer l

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Despite skepticism, gaming is big & rapidly growing: $152bn and ~10% CAGR. Netflix said “We compete with (and lose to) Fortnite more than HBO”. Very few business models work in gaming other than simply building successful games: most of the money in the industry stays with the game developers/publishers and the major gaming/streaming platforms.