There is evidence that the U.S. streaming market is maturing and slowing down, which suggests that overall TV revenue is likely near a peak. Even after media conglomerates work through the current period of high startup investment in their streaming businesses, steady-state streaming margins are likely to be much lower than traditional TV margins. As such, these companies will need to focus more on optimization rather than subscriber growth.
If these streaming services don’t figure out how to change their strategies accordingly, we might see the slow painful death of yet another media service.
TL;DR It’s not all about the number of subscribers.