Photo illustration: Brendan Lynch/Axios. Photo: Stephane Cardinale/Corbis via Getty Images
The third phase of the streaming wars has arrived. Now that most services are scaled (phase one) and profitable (phase two), media companies must use streaming to accelerate other parts of their businesses where they have a competitive edge against Netflix.
Why it matters: Consumer spending on video has plateaued since the pandemic, and ads aren't expected to meaningfully offset those declines in the near term.
