This was obvious to me in 2014, when I was part of the earliest discussions at Disney for building a streaming service. It was obvious to everyone working in th

This was obvious to me in 2014, when I was part of the earliest discussions at Disney for building a streaming service. It was obvious to everyone working in the space. As we started discussing partnerships with various providers to help distribute, it became clear they wanted a window into our service where they could see what was available and direct link to content in our streaming apps. Essentially, they wanted to keep owning the customer's experience and pass them to us to watch something. Everyone wanted to be in the position to be the next cable company. Even Apple. Apple TV+ is one of the latest movers here, and I think it's because they were pushing hard for a while to be that "we own the customer experience" layer but the content companies had gotten wise to Apple's tactics since the early days of iTunes.