Streaming is an affront to God

Trouble arrived early in the 21st century, when upstart companies powered by new digital technologies began to challenge the status quo. Entertainment executives reflexively dismissed the threat. Netflix was “a channel, not an alternative.” Amazon Studios was “in way over their heads.” YouTube? No self-respecting artist would ever use a DIY platfor... See more

There is a lot of excitement about traditional TV companies transitioning to streaming, but an unavoidable conclusion is that the streaming business is structurally much less profitable than traditional TV.

Why is streaming less profitable? Starting with economic theory, unbundling digital information goods inherently reduces profits and streaming is unbundling TV.