Ed Elson at Prof G Media has a deep-dive look at what he calls the “Clip Economy,” and he argues that the legacy media companies are making a mistake by not focusing more on the trend.
Heads up: This isn’t another think-piece about the streaming wars or the death of cable. Those trends are old news. This is about something newer and more structural, a seismic shift that’s transforming the way we consume information at a global scale. Not streaming. Not AI. Clips.
Yes, clips, those one-minute videos you see every day on your social media feed. Some would simply call this “short-form content,” but clips are slightly different. They are specifically snippets of long-form content — things like podcasts, livestreams, and TV shows — a byproduct of something else. In other words, every clip is short-form content, but not all short-form content is a clip.
He notes that when the news broke that Open AI was acquiring the tech-oriented live talk show TBPN for $200 million, there was a lot of talk about how the average TBPN show receives roughly 7,000 views per episode. But he argues the value in the deal are the show's clips, which receive an average of 257,000 views each. And the one-minute snippets have a short sentence attached to the end: "This clip was brought to you by..." That short ad generated $5 million last year, and is on track to generate close to $20 million in 2026.
Despite a modest livestream audience of less than 20,000, Nick Fuentes reaches more than half a million people on average through his clips. One of his most recent clips reached eleven million people. That’s more than the population of New York City. Clavicular's reach is similar: His actual show averages only 16,000 viewers, but his clips average a quarter of a million. Meanwhile his past ten TikToks reached roughly seventy million, more than the population of France. From TBPN to Clavicular to Hasan Piker, the pattern is roughly the same — the shows are small, but the clips are massive.
In theory, clips are something the legacy media companies should embrace. Or if not embrace, at least be attempting to roll out. I am sure it feels beneath them and something that is juvenile or transient. But at a time when content discovery remains a challenge and every network and platform is trying to reach younger viewers, ignoring something they actively engage with everyday seems like a bad move.
Awards shows should hire a clipping firm to send out clips from the show, along with clips from backstage. Create moments that cut through the clutter. It’s definitely something I would be doing with Survivor or the late night shows. It isn’t degrading or cheap. It’s just an effective way to reach viewers that might otherwise be watching your show.
Stephen Colbert Talks To The NY Times
Stephen Colbert spoke with The NY Times reporter John Koblin about his upcoming exit from late night television. The interview is certainly interesting. But it’s also a reflection of the space limitations of a big newspaper such as the Times.
Despite Koblin mentioning that just one answer from Colbert lasted nearly 18 minutes, the interview is concise and direct in a way that feels like a lot of good stuff was lost in the editing process.
I wish there was a way to provide a longer version of the interview, in the same way that CBS provides a transcript of both the 60 Minutes interview as it aired on television, as well as the parts of the interview that didn’t make the cut.
I don’t have any problem with Trump being a Republican. I have a problem with Trump being a complete narcissist who is only working for his own interest and does not appear to care if the entire world burns. That’s not a partisan position. I have eyeballs and ears, and I think calling late night partisan is just roughing the ref. And we don’t even want to be refs, but they perceive us as refs. I reject the partisan description. Partisan means you’re never, ever going to make a joke about a Democrat, and that’s just not true. There’s just no comparison of how fertile the fields are.
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Civil Society Groups to Urge Antitrust Investigation into Netflix’s Market Power
The Open Markets Institute, joined by a coalition of leading civil society organizations, yesterday sent a letter to federal antitrust enforcers calling for a formal investigation into whether Netflix is engaging in monopolistic practices that harm competition, creators, and consumers in the rapidly evolving video streaming market.
The letter was addressed to Andrew N. Ferguson, Chair of the Federal Trade Commission, and Omeed Assefi, Acting Assistant Attorney General for the Department of Justice Antitrust Division. It was signed by the Open Markets Institute, Writers Guild of America West, American Economic Liberties Project, Center for Digital Democracy, Demand Progress Education Fund, Institute for Local Self-Reliance, NextGen Competition, Revolving Door Project, and Tech Oversight Project.
With more than 325 million global subscribers, Netflix plays a dominant role in subscription video streaming. The coalition argues that the company’s scale—combined with its vertically integrated production model, vast content library, and access to granular user data — may create significant barriers for competitors and give Netflix outsized control over both audiences and creators.
"Fair competition in media markets is essential not only for consumer welfare, but for a dynamic creative economy and a pluralistic democratic society," the groups wrote. "When one firm attains gatekeeping power over distribution at scale, it can shape which voices are heard and on what terms creators participate in the market."
These are some of the concerns expressed by the group:
Concerns Over Pricing Power and Market Dynamics: The groups point to a series of recent subscription price increases by Netflix, reportedly outpacing inflation. Public statements from the company suggest it believes it has substantial “pricing power,” while also experiencing relatively low customer churn compared to competitors. “Sustained price increases alongside limited switching may indicate that competition in streaming markets is not functioning effectively.”
Impact on Creators and Cultural Content: The coalition also raises concerns about how dominant streaming platforms are reshaping compensation structures for writers, actors, and other creative professionals. Organizations including the Writers Guild of America West have highlighted how streaming-era business models have altered residual payments and bargaining dynamics. The letter notes that enforcers have previously examined whether Netflix holds “anticompetitive leverage over creators,” underscoring the relevance of these concerns.
Data, Transparency, and Gatekeeping Power: According to the groups, Netflix’s control over viewer data and recommendation systems further entrenches its position. Limited transparency into viewership metrics may allow the company to set compensation and production terms in ways that creators and competitors cannot independently verify. The coalition also flags concerns about geographically differentiated content libraries, which can result in unequal access to programming across markets—an issue that may be amplified at Netflix’s scale.
I know there are legitimate concerns here, but some of the examples are almost ludicrous. Arguing that a low churn rate suggests Netflix may be a monopoly is a grave misunderstanding of the business. And it’s the same with complaints about Netflix feeling comfortable raising prices. It can raise prices because it has become the first streaming choice of most people. Not because it’s a monopoly, but because it is better at its business than some of its rivals.
This letter feels as if were written back when Netflix was expected to win its bid for Warner Bros. Discovery. And after that changed, the groups just decided, “Screw it, let’s just send it anyway.”
Odds & Sods
A new season of 90 Day: The Last Resort premieres Monday, June 1st, on TLC.
The movie The Whisper Man premieres Friday, August 28th on Netflix. And here is the official logline for the film, which stars Robert De Niro, Michelle Monaghan, Adam Scott: “Based on the New York Times bestselling novel by Alex North. When his eight-year-old son is abducted, a widowed crime writer looks to his estranged father, a retired former police detective, for help, only to discover a connection with the decades-old case of a convicted serial killer known as "The Whisper Man."
A new season of Lakefront Bargain Hunt Renovation premieres Tuesday, June 16th on Magnolia.
Season two of Ransom Canyon premieres THursday, July 23rd on Netflix. Here is the official logline: “Season 2 picks up six months after the events of the first season, with rancher Staten Kirkland (Josh Duhamel) fighting to reclaim his legacy after being unseated as trustee of his family's Double K Ranch, while musician Quinn O’Grady (Minka Kelly) must decide if her heart truly belongs in the small town she once tried to outrun or in the fast-paced world of New York City. Are they star-crossed lovers, or fated to be together? In Ransom Canyon, true love stories are messy, complicated, and always worth the wait.”
A new season of Maine Cabin Masters premieres Monday, May 25th on Magnolia.
Veteran media reporter David Bauder is leaving The Associated Press after 40 years. “So…remember the story I wrote about The AP offering buyouts to many of its employees? Well, I decided to raise my hand to volunteer and Thursday is my last day after nearly 40 years. Truthfully, the time to do something else was approaching, the offer was generous and if it clears a path for a younger colleague, so much the better..."
Stranger Things: Tales From ‘85 has been renewed for a second season by Netflix.
Philo has added Versant Media Group’s Free TV Networks FAST channels to its lineup. That includes 365BLK, Outlaw, and Pam Grier's Soul Flix. Now if Philo can just add Versant’s linear networks: Syfy, USA, MSNBC, CNBC and E!.
And speaking of events I’d like to attend: The International Streaming Summit in Busan, South Korea.
Season two of Bad Thoughts premieres Sunday, May 24th on Netflix.
Season five of Trying premieres Wednesday, July 8th on Apple TV. Here is the official logline: “Season 5 of the warm family drama finds Nikki (Esther Smith) and Jason (Rafe Spall) dealing with the consequences of Princess (Scarlett Rayner) and Tyler’s (Cooper Turner) biological mother Kat (Charlotte Riley) turning up at their doorstep, and the whirlwind of chaos she brings into their settled family life.”
Tweet Of The Day
Howdy Tops One Million Subscribers
In August 2025, Roku introduced Howdy, a paid streaming service available through The Roku Channel for $2.99 a month, offering ad-free movies and TV. In just 8 months, Antenna estimates that Howdy has surpassed one million subscribers, with retention rates exceeding those of Premium SVOD averages.
Howdy is also showing very strong performance on retention. Among Sign-ups to Howdy in August and September 2025, Antenna estimates that 51% were still subscribed 6 months later. That 6-month Survival Rate sits ahead of the Premium SVOD average (47%) and the Specialty SVOD average (38%). The $2.99 price point likely plays a role here, as the low monthly commitment reduces the friction that drives churn on higher-priced services.
The Ankler Is Moving Off Of Substack
When people would ask me why I hadn’t moved off of Substack, one primary reason I gave was that entertainment/media publications such as The Ankler provided a steady stream of recommendations that led to both free and paid subscriptions. And once I learned The Ankler was leaving Substack, it made more sense for me to do the same thing.
While I obviously moved to Beehiiv, The Ankler is moving its publishing operations from Substack to a new subscription management platform called Passport that was created by Ben Thompson, who has run the newsletter Stratechery since 2013. The platform is being built with Automattic, the creator of the popular publishing platform WordPress.
There will be a few changes. The monthly price for what is described as “The Ankler All Access” appears to be going up from $17 to $19. Series Business and Sean McNulty's The Wakeup will be available as standalone products. In the coming months, two of Ankler Media’s standalone publications — The Optionist and Like & Subscribe — also will be migrating off Substack and onto this new platform. But Richard Rushfield will continue to do what is described as a "new, even more unfiltered newsletter."
In some ways, this is a logical move for The Ankler as it transitions into a full-blown media company with an events business, video podcasts and multiple newsletters and columns. It’s going to be interesting to see if they can successfully straddle that space between the traditional Hollywood trades and smaller, independent publications like mine.
What’s Coming Tonight And Tomorrow
WEDNESDAY, APRIL 29TH:
Envious (Netflix)
Je m'appelle Agneta (Netflix)
Nova: Return To The Moon (PBS)
Shared Planet (Netflix)
Should I Marry A Murderer? (Netflix)
The House Of The Spirits Series Premiere (Prime Video)
Widow's Bay Series Premiere (Apple TV)
THURSDAY, APRIL 30TH:
Destination World Cup 2026 (Tubi)
Man On Fire Series Premiere (Netflix)
Mysteries Of Ancient Medicine Series Premiere (NatGeo)
Scarborn (Viaplay)