The part I agree with is many companies are throwing huge amounts of money at original content creation and some of these will get burned. The poster child for

The part I agree with is many companies are throwing huge amounts of money at original content creation and some of these will get burned. The poster child for this (IMHO) is Netflix who has spent so much on this that they've had to raise prices to untenable levels, which is hurting retention in the US and Canada in particular. I disagree with your claim about people are primarily watching old content (source?). Just looking at one list for Netflix [1], it's all fairly recent shows with the notable exception of Seinfeld. It's actually astounding what a money-making machine Seinfeld is 25 years after being on the air. Even before streaming, Seinfeld reruns would get >1m viewers on cable. It's crazy. I actually believe the last 20 years have been (and seemingly continue to be) the golden age of television. Technology finally made practical heavily serialized content and TV enables types of content not possible in movies. Movies are just limited to ~3 hours in length (director's cuts of Dances with Wolves notwithstanding). Movies are for short stories. TV is for books. This is a structural change in the industry and despite the Big Brother-esque mediocrity we've also seen over this period, it's undeniable that we've seen some of the greatest entertainment ever to grace a screen in the last 20 years. [1]: https://variety.com/2021/tv/news/tv-ratings-seinfeld-you-squid-game-my-name-1235115452/ https://variety.com/2021/tv/news/tv-ratings-seinfeld-you-squ...