Caroline Hyde

But bottom line, there are going to be fewer buyers for creative product.

Also left begging in this, though, and I think it's really worth talking about, especially on a tech-focused show, Netflix's biggest problem is not market share versus Amazon or Disney Plus or what have you.

The bigger problem is YouTube.

YouTube commands far more viewing time, almost double the viewing time.

that Netflix does right now.

And Netflix has been busy trying to poach YouTube creators.

But what's really happening in the entertainment industry as a whole is this flood of creator content.

And this deal does nothing to address that.

They could have spent far less money and bought a creator studio that could very well have a much larger impact moving forward than gaining some really great titles.

I mean, the IP of Harry Potter and Friends, that alone is worth a lot of money to them.

I don't think the market has grasped the tidal wave that is being unleashed, even as we speak, and is only going to grow thanks to AI, which puts more tools into the hands of more creators.

And so I think there's going to be a reckoning at some point, not this week, not maybe this year, over the next 12 months, but that's what's happening in the entertainment industry.

So this could end up being looked upon as one of the last great

old media deals.

And it's ironic to call Netflix old media.

And I'm not saying they're blind to the challenge of YouTube or the creator opportunity, but it's placing a value on something that used to have a lot more value than it is going to have moving forward.

John, what's so great about you is because you're building Hang, which is all about Gen Z interacting with brands, because you built an AI business that you sold to Apple, you are in the new media, but you also did help run CBS and CNN.

What does it mean for TNT, for CNN?

What does even that part of the business have value?

Do you think it has $2 value or in excess of?