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Well, within just a few years of each other, you saw Peacock and Disney+, Apple TV+, HBO Max launch and all those services were sold at a huge discount. They gave away a lot of promotions, they basically gave away the service for free. So, they were also spending very heavily on content to acquire new subscribers.

And then there's a journal article pointing out, "If you're a really big NFL fan," it says, "This new service would give you only a portion of the games that you may want to see since you will need Amazon for Thursday Night football, Paramount+ for access to CBS's Sunday afternoon games, and NBC Universal's Peacock for Sunday Night football." So, it's definitely not fixed everything for the consumer.

Disney Plus is losing money, Peacock is losing money, Paramount Plus is losing money, Max is losing money, and Netflix is the only one that's not. And so they've kind of painted themselves into a corner, so to speak, because they need to increase prices to be able to make these businesses sustainable, let alone wildly profitable. All right folks, question two.

HBO Max was closer to Peacock and Tubi, so definitely something they're trying to focus on. Time spent on platform. Oscar, will this work though? Does this new service make sense to you? Oscar Orozco:. I think the time spent, the engagement story is really important and I think it's one of the major reasons why I think this rebrand does make sense. It does. What does, for example, Netflix do so well?

I'm just looking at a chart here from the Wall Street Journal showing Hulu, Max, Netflix, Disney Plus, Peacock, Apple TV+ all with prices going up.