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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 I think even though they're investing in content, Roku isn't delivering that water cooler chat level content that lets it compete with other AVOD services that are paid, including HBO Max, Disney+ and Netflix. So I think when you look at a much wider spectrum, the competition is fierce. I think the last podcast we were on, we talked about how there's something like 25 streaming services now.

Paramount plus would be fourth with 52 million, and in joint fifth would be Disney Plus and HBO Max with 51 each. But fast-forward to 2027, what would have been the biggest surprise in video streaming, Zach? Zach Goldner:. Yeah. Well first of all, we have our own projections here. I am the one that worked on our own video forecast numbers, so none of this is a surprise to me.

So if you combine the cost of HBO Max, Hulu, Disney Plus, ESPN Plus, Netflix and Amazon Prime, you're coming to a total of $65. And that doesn't discount buying an annual subscription. Some services offer that. That compares to the average US monthly cable bill, sorry, the ranges that I found were all over the map.

So if we were to look at some of the largest subscription OTT platforms, like Netflix or HBO Max or Disney+, all of those right now are less than a third of their users currently with ad-supported, and that leaves a lot of room for growth. That's why I believe that ad-supported can overtake ad-free. Marcus Johnson:.

You're talking about between these folks at Disney here, folks at Warner Brothers wrestling over the HBO Max decision, you're talking about folks who have spent decades, generations being really successful at figuring out how to feed all of us entertainment products in a sustainable and profit-generating way. They're still flailing around right now.