Liberty Media CEO Greg Maffei on Thursday warned Hollywood's escalating and costly streaming wars will eventually undermine the pay TV industry
Liberty Media CEO Greg Maffei on Thursday warned Hollywood's escalating and costly streaming wars will eventually undermine the pay TV industry.
Maffei as he discussed the current streaming wars involving Hollywood and Silicon Valley pointed to mounting challenges for the scripted video space, including a glut of original content and competitors chasing "illusory global growth." "There are limitations where you can watch videos -- you can't do it in the shower, you can't do it at work and definitely don't do it while driving," he told investors. And unlike the video space where the industry has seemingly reached peak screen, the audio market is set to grow exponentially.
SiriusXM and Pandora have their own exclusive deals, starting with Howard Stern and extending to superhero podcasts from Disney-owned Marvel and sport podcasts from LeBron James' Uninterrupted network and the NFL.
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