Those marketing costs need to be included in the margins - put concretely, it means cost of customer acquisition is very high. If you're spending two dollars to

Those marketing costs need to be included in the margins - put concretely, it means cost of customer acquisition is very high. If you're spending two dollars to bring in one dollar, you're going to fail. Consolidation is an attempt to bring those costs down by reducing the number of players bidding for customers.