TV in the Age of Churn

Deep Cut 002: The Streaming Stack Works. The Revenue Stack? Not Yet.

We built beautiful engines for content delivery. But forgot to fuel them.

Streaming promised everything: personalization, control, infinite choice. A direct line to what you love, when you want it, on the device you happen to be holding. It delivers on cable’s old promise of the “4 Any’s”: Any Content, Anywhere, Anytime, Any Device — in a way the cable industry never saw coming.

But here in 2025, as the streaming giants get older and their balance sheets more demanding, a fundamental tension is surfacing: the platforms are fully grown — but the business model is still figuring itself out. The infrastructure is sophisticated. The UX is slick. The content recommendation is decent, if a little same-y. Streaming isn’t struggling with how to deliver content and it’s struggling with how to pay for it. And that, in turn, is driving the churn.

Note: These AI ideas aren’t gospel — just possibilities. They are sketches, not blueprints. If you’re already building in this space (or know someone who …