2 theories on why the Great Rebundling is coming:

1. Netflix was the default, everything else (except Disney) felt like an experimental subscription for users

2. TV ads are purchased by legacy advertisers and agencies. Streaming doesn’t match their status quo. Digital ads are purchased by the new school. Non-self-serve platforms doesn’t match their status quo.

Ad-supported streaming offshoots got caught in the ad revenue valley between digital and legacy advertising powerhouses while linear TV became less enticing for ad buys. Double whammy.