Although scale feeds will be widely consumed, no one provider is likely to achieve Pay TV’s historic 90%. As a result, content creators will find audience development far more difficult (and the cost of changing licensor far worse) than ever before. Similarly, no content owner needs to go to one provider to reach Gen Xers and another to reach Baby Boomers or Gen Z’s. USB4 Gen 4 with data rates of 80 and 120 Gbps (10,000 and 15,000 MB/s). A 0 data bit encodes a dominant state, while a 1 data bit encodes a recessive state, supporting a wired-AND convention, which gives nodes with lower ID numbers priority on the bus. But as Snapchat, Facebook and other regionally dominant social feeds look to further gains in user time and leverage their existing footprints, they’ll undoubtedly pursue more conventional content. Even as a collective, the value of individual contributed titles would be highly commoditized (it’s not hard to imagine a Spotify-style royalty model based on time viewed). Although the service includes many of the most widely viewed videos worldwide, it would be a mistake to view it as a digital-era broadcast platform.

Bandwidth has historically been very unequally distributed worldwide, with increasing concentration in the digital age. While these objectives can be pursued and achieved concurrently, how a content owner or rights holder decides to prioritize these three goals will have a significant impact on the economics, operating model, and needs of their business. Under the scale feed model, intermediary rights owners add far more cost than they do value. And it will be much easier to establish a scale feed today than trying to regain lost viewers five years down the road. There are certainly ways to nitpick this consumption to date - it’s not nearly as sticky; it’s much shorter, less valuable, unplanned, and so on. What’s more, social feeds like Facebook and Snapchat represent the feed in its most potent iteration to date - bundling together all forms of content: personal and impersonal, photo and video, text and visual and audio, ephemeral and evergreen, etc. And while cable represented a profound leap forward in audience targetability, the social feeds deliver unlimited audience relevance; everything a viewer sees is designed to capture, engage, and retain their attention specifically. Finally, it’s important to distinguish the major social feeds from YouTube, which boasts comparable reach but operates as a scale feed.

Crucially, however, the social feeds will continue to reach nearly every consumer - at almost all times of the day and with unparalleled targeting capability. That’s my definition of social democracy. Although consumers often complain that limited MVPD competition resulted in high prices and substandard products, it also protected them from the sort of content-exclusivity race that’s set to wreak havoc on the music streaming business. This will make social distribution critical for any content company that’s struggling to reach or build an audience. Not only will they offer unparalleled targetability and audience intelligence, these services will also inherit the Pay TV industry’s most important attribute: universal reach. While scale feeds will be the digital successor to Pay TV distribution, the spiritual successor to the Pay TV feed will be the social networks. Although participants would benefit from both licensing revenue and equity appreciation (again, not unlike Spotify), this value may nevertheless pale in comparison to that of the traditional Pay TV ecosystem. Not build digital revenue streams to offset linear losses. Furthermore, charging and discharging losses are as high as 20-30% in lead-acid batteries and around 10% in lithium-ion batteries. High-quality inverters are more than 90% efficient when used at high capacity.

It will be rough, but their current shows are the hook. Fortunately, the best opportunity to steal share comes from a platform shift - and virtual reality, which will be tightly linked to the media business, is likely to be one. Further still, the viewer can go on to discuss and share this content from within the same very feed. Not only will your VPN have to be designed, tested and validated for this specific use, but you will also have to use software (and systems) in the same vein. Not long after, Netflix did the same with Black Mirror. If you’re paying for Netflix, should it really matter if you binge the content through Netflix or on, say, Jessica Jones’ official site? Like Netflix, the service succeeds because of its personalization and deep, varied catalogue (which includes both YouTube Gaming, live streaming, and an on-demand music service). It has an immense catalogue - with no single title, franchise, or library essential to its overall success - and it boasts a massive audience that consumes tremendous volumes of content each day. Furthermore, the ownership of both content and distribution should provide added margin and their combined catalogue could enable a material premium compared to other scale feeds.

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