[cbsmith]

It's a "tiny" part of a services business with a billion subscribers, that generates $20B of revenue in a quarter. $20B in production costs over 4.5 years works out to less than $5B/year in costs, against competitors like Netflix and Disney+ that are spending $20B a year.

I actually haven't seen any numbers on their current marketshare, but I'll give you that they aren't anywhere near their competitors. I don't think the problem is that they're spending too much money.