I don't think these two categories are differentiated by if their content is free (despite they do have a deference in this regard), it's more about how the cus

I don't think these two categories are differentiated by if their content is free (despite they do have a deference in this regard), it's more about how the customers pay for it. Hack, I'd say livestreaming (Twitch, the livestream part of YouTube/TikTok etc.) is a very different business altogether compared to normal "video streaming" (serving VODs). Also when talking about livestreaming business, one can't ignore China. They have some massive platforms (in both cashflow and audience size) despite being unknown outside China. Like Bilibili, Douyu, Huya, etc.