Episode 157: May 5, 2023

• [0:00] Cry Baby.
• [1:50] Welcome to the world, Stella Jade!
• [5:55] Apple’s excuses for weakness in Services.
• [10:45] Sustainability of iPhone sales in EM.
• [14:50] Marcelo’s move from crypto to AI.
• [17:42] Lina Khan identifies the AI problem but does not give a prescription.
• [25:20] Who should be the decision-maker on AI regulation?
• [29:25] Uber is quietly building a scaled hyperlocal ads biz.
• [31:40] TikTok ads drive TV viewership more than TV ads.
• [33:46] TikTok’s unlikely to be global competitor to Spotify.
• [35:47] Writers’ Strike likely to be a long haul.
• [38:50] Why did Paramount cut the dividend now?
• [42:16] YouTube’s CTV success is an ominous sign for TV upfronts.
• [44:15] Live Nation’s business is on fire as it awaits regulatory resolutions.
• [46:56] WWE investors need to keep an eye on NASCAR/NBA rights.
• [48:55] Are local sports on broadcast positive for broadcast stocks?
• [52:13] Non-Netflix streamers still struggle generating viewership on new content.
• [55:02] Blue Sky is Jack’s attempt to fix what Elon has done to Twitter.
• [58:23] Dish finally got a win!
• [59:38] Sundown.

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Episode 156: April 28, 2023

• [0:00] Crosseyed and Painless.
• [1:12] Jerry! Jerry! Jerry!
• [2:14] What should we call LightShed’s new product?
• [6:30] Is the platform or the personality most important?
• [12:40] Is now the right time for NBCU to make a strategic move? 
• [17:24] The DOJ and FTC are out of control.
• [24:45] Would Microsoft look at Hulu or Roku if Activision is dead? 
• [27:00] The US should focus on a reciprocal trade framework.
• [27:50] Apple has masterfully framed anti-competitive measures as pro-consumer.
• [32:08] Expect Reels to be nicely accretive sooner than later.
• [34:18] Will Snap’s recovery follow Meta’s on a lag? 
• [38:40] Regulatory resolutions will be a boon for Live Nation shares.
• [42:35] AI piracy is equivalent to early Napster – you cannot sue all individuals.
• [46:45] Broadcast will increasingly become a home for live sports.
• [49:37] What will Endeavor (ex TKO) look like? 
• [53:36] Disney investors should take note of Jio content moves.
• [56:07] At least Hans thinks his leadership process is effective.
• [1:05:45] We didn’t realize Clubhouse still existed.
• [1:07:05] Waiting on the World to Change.

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Episode 155: April 21, 2023

• [0:00] The Way It Is.
• [1:59] Brandon handled his move surprisingly well.
• [6:16] All the reactions to losing the blue (white*) checkmark.
• [12:31] Can US password crackdown reaccelerate Netflix revenue growth?
• [16:15] Press reports were completely wrong about Netflix’s advertising traction.
• [18:45] NBC does live streaming far better than Netflix.
• [21:21] Netflix Gaming is a deepening focus but not a near-term catalyst.
• [25:37] What does Fox/Dominion settlement mean for the news biz? 
• [29:00] Politicians all want to rally against TikTok, but no one wants to actually act.
• [32:08] T-Mobile’s cable-like price increase and AT&T’s tough day.
• [37:25] MyAI provides unique dataset for Snapchat’s ad business. 
• [42:46] Creators are earning a living on Snap.
• [43:51] AI-generated music is only going to get better and smarter over time.
• [49:02] Meta now pitching the AI advertising story, not metaverse.
• [52:10] VR scale requires giving developers the right tools to build creative experiences.
• [55:14] Satellite to cell phones one step closer with FCC approval.
• [57:16] Don’t sleep on Fox’s interest in the NBA.
• [1:02:20] Sphere Co. is trading as if the Sphere is already a failure.
• [1:05:16] SeatGeek is facing headwinds in both the primary and secondary markets.
• [1:06:34] It turns out Elon didn’t want to pause AI development after all.  Go figure.
• [1:07:20] Changes.

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Episode 154: April 14, 2023

• [0:00] Succession (Main Title Theme).
• [1:47] LightShed 3:16.
• [5:03] Did WWE have more than one serious bidder?
• [10:01] Don’t overanalyze Warren Buffett’s views on streaming.
• [17:15] Why taking HBO out of Max could help WBD.  
• [24:22] Max must lean into ML, not clicks, to surface catalog.
• [29:22] Google keeps building out TV ecosystem, will they ever market it? 
• [31:52] Sunday Ticket’s pricing doubles as a YouTube TV marketing tool.
• [34:59] Netflix must thread the needle between building franchises and oversaturation.
• [37:10] Trade proposal: Marvel theme park rights + cash for Hulu.
• [41:36] Will Air’s theatrical run benefit its streaming performance?
• [48:54] Video game IP’s increasing importance to movies and streaming.
• [53:23] TikTok wants to be Meta and Amazon.
• [56:32] AI is going to be disruptive much sooner than we think.
• [58:29] Meta leans into AI tools for UGC creation.
• [1:00:53] Copyright protection and AI will be an unwinnable game of whac-a-mole.
• [1:04:44] Is sports gambling becoming too popular to society’s detriment?
• [1:08:10] Rupert Murdoch does not want any Succession spoilers.
• [1:09:03] Taxman. 

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Episode 153: April 7, 2023

• [0:00] The Pink Panther Theme.
• [2:29] Who had the best mustache ever?
• [5:34] TKO pair trades abound.
• [10:34] UFC/WWE success hinges on media rights.
• [14:28] Compelling storylines drive sports ratings.
• [17:18] All sports leagues are realizing the value of non-game storytelling.
• [20:07] Thank you T-Mobile for helping accelerate the adoption of robo umpires.
• [23:20] Disney investors should pay attention to IPL on JioCinema.
• [26:18] Search is a generative AI use case that consumers can quickly adopt.
• [28:39] Why is the Chinese-owned Temu still in the US App Store?
• [32:01] Will Harry Potter anchor the new Max (formerly HBO Max)?
• [36:28] Netflix live experiments continue.
• [38:49] Are theme park trends starting to slow? 
• [41:30] Saudi Arabia wants to build a diversified media and entertainment powerhouse.
• [44:04] Roku/Disney+ AVOD good for consumers.
• [45:30] Live audio is a feature, not a standalone product.
• [46:36] Mama Said Knock You Out.

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Episode 152: March 31, 2023

• [0:00] Hollywood Nights.
• [3:20] Rich is now a Disney Parks spokesperson.
• [5:40] Apple is not going to buy Disney.
• [9:17] What are your WWDC 2023 predictions?
• [11:09] Is there a practical way to handle ethical AI?
• [16:20] Generative AI will increase UGC content volume and quality.
• [23:35] FCC wants transparency on Pay TV prices.
• [28:40] Sports franchises and players will make less money in a DTC world.
• [34:14] MLB finally unveils a clever marketing campaign.
• [36:36] Standard General/Tegna take their merger case to a real court.
• [39:57] Amazon could be a dark horse WWE bidder.
• [45:30] If Amazon wants to buy AMC Theaters, buy them in bankruptcy.
• [47:02] #Goodluck to the Oscars in their fight against technology.
• [48:01] Will ByteDance’s Lemon8 face the same scrutiny as TikTok?
• [51:56] Disney neuters DeSantis’ district oversight board.
• [53:46] Activision’s business looks strong with or without Microsoft.
• [55:47] The NY edition of governmental overreach.
• [57:43] Hollywood Nights.

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Episode 151: March 24, 2023

• [0:00] Animal.
• [6:24] If you step into Walt’s mentions he will drive across the bridge.
• [9:24] Did we actually learn anything new from the TikTok hearing?
• [15:50] The barriers to MSFT/ATVI approval continue to come down.
• [21:42] Unreal Engine: CGI vs. Humans — hard to tell.
• [23:15] Fortnite Creator Economy 2.0 economics are more attractive than Roblox payouts.
• [27:14] Does the Roblox base actually want improved graphics and deeper gameplay?
• [31:02] Panic around Netflix Canada’s password sharing falls, as expected.
• [32:29] Cloud-based gaming will help Netflix but they still need to deliver a hit.
• [37:37] Increased Apple content spend doesn’t change our view on service revenues.
• [40:15] It’s hard to believe that a theatrical window helps a bad movie perform on streaming.
• [46:58] Flexing the TNF schedule is good for Amazon but not for the NFL.
• [48:31] Baseball finally has a star thanks to WBC.
• [53:05] ChatGPT plug-ins will accelerate real world use cases of generative AI.
• [1:01:19] Generative AI suddenly complicates Writers Guild negotiations.
• [1:02:54] Fubo should worry about carrying March Madness, not a rebrand.
• [1:05:30] Hungersite.

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Episode 150: March 17, 2023

• [0:00] I’m Shipping Up To Boston.
• [2:37] Walt is the calm voice of reason?
• [7:55] TV keeps getting more expensive. 
• [12:29] YouTube TV is the best way to watch TV, now with Multiview.
• [14:34] Meta’s IR narrative has changed, not their actual focus.
• [19:07] Will there be real action or are government threats to TikTok just political posturing?
• [25:30] Netflix was always going to build their own ad tech.
• [27:37] Surprise: almost all Disney+ subs chose a 38% price hike over ads.
• [28:26] Buying Hulu is the quickest way to build a CTV advertising business.
• [37:46] Investors are overreacting to Netflix Canada’s password sharing rollout.
• [42:26] How does Tubi viewership match Peacock?
• [44:00] Consumers love HBO even if engagement is limited. 
• [47:43] What telecom metrics matter?
• [52:04] Cure onsale exemplifies changes needed in ticketing industry.
• [58:21] FCC shouldn’t hide behind the ALJ.
• [1:01:15] Creators are beginning to make real $ on Snap.
• [1:03:44] Dish TV and Boost subscribers still in the dark.
• [1:06:24] Adam Aron continues to spin AMC shareholders.
• [1:08:36] Just Like Heaven.

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Episode 149: March 10, 2023

• [0:00] Free Bird.
• [2:21] LightShed Team Dinner had two special guests.
• [5:27] A TikTok ban is far more complicated than it looks. 
• [12:32] Reels is growing time spent for Meta, with monetization just starting.  
• [18:01] Will there ever be multiple app stores on the same device?
• [22:53] Iger calls BS on competitor streaming expectations.
• [27:01] If Comcast is not buying Hulu then who is?
• [29:48] Mando’s lack of buzz shows the difficulty in chasing Netflix.
• [35:40] Each week brings more retrans headwinds.
• [38:40] Roku’s Best Buy partnership is an opportunity to reclaim lost market share.
• [41:23] Sports teams need to take short-term RSN pain for long-term health.
• [46:49] Is Endeavor’s sudden lack of interest in WWE simply posturing?
• [52:26] Live Nation gets support for FAIR from everyone except its competitors.
• [54:41] If Spotify finally gets video right, it will boost its advertising ambitions.
• [57:49] Everyone now has a Chat-GPT integration.
• [59:01] Elon’s perfect venture troll.
• [1:00:07] Tuesday’s Gone.

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Episode 148: March 3, 2023

• [0:00] Mistadobalina.
• [2:06] Billing problems corner.
• [8:26] Rich’s unusually low Uber rating.
• [12:26] Analysts need to read financial statements.  
• [15:58] Will RSNs going direct-to-consumer accelerate cord-cutting? 
• [21:46] Does Turner really want to be in the NBA biz? 
• [23:50] ESPN wants to become the singular destination for sports fans.
• [30:36] Hans buys himself time at Verizon with management shuffle.
• [34:02] Meta ad targeting continues to improve faster than investors realize.
• [38:33] Xtadium NBA is a perfect VR use case.
• [47:12] Apple continuously does what’s best for Apple.
• [50:10] Is Endeavor messaging that it doesn’t have to buy WWE?
• [56:23] UK is still a hurdle, but we are getting closer to MSFT/ATVI approval.
• [57:57] Call of Duty meets Roblox – incredible graphics and core gameplay on Roblox.
• [59:48] No quick fix to Disney’s content struggle as focus shifts back to quality.    
• [1:02:40] A Redstone, a Porn Star, and a Cat-Kidnapper Walk into a Bar…
• [1:04:02] 3030. 

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