> Is there any reason to think that this market is a winner take all? I personally doubt it. Exceedingly few markets are winner-take-all. Plus, monthly subscri

> Is there any reason to think that this market is a winner take all? I personally doubt it. Exceedingly few markets are winner-take-all. Plus, monthly subscribers are "sticky", so they're not going to leave overnight if one competitor gains a slight edge, and everyone else will have a chance to catch up. Your point about the labels and streaming services as middle men is a good one too. Labels own all the content, so they have a lot of power to influence the market as well.