Yes, that seems to be true (and is that % you've guessed maybe too low? Maybe far too low?). Even with that though, it's extraordinarily fine margins -- w/r/t the businesses that I mentioned, the majority of the income comes from those value-adds, if they weren't there it would generally be difficult for the businesses to survive financially. That's where I was coming from.
To me, Spotify seems to be using podcasts in a similar way. I assume it's because the central business model is unsustainable when combined with investor pressure; they can't just focus on core product because they're burning too much of other people's money in an attempt to outcompete everyone else
To me, Spotify seems to be using podcasts in a similar way. I assume it's because the central business model is unsustainable when combined with investor pressure; they can't just focus on core product because they're burning too much of other people's money in an attempt to outcompete everyone else