The story from Netflix seems to be that there is still enormous room to expand in the content side and in fact their business model is to make even more room, by having more niche programming as well as the binge-watching thing.

Also it was interesting to hear Reed Hastings basically say that as a tech company Netflix might not have too long an independent life but if you look at it as a rival to Disney it could be a hugely successful independent company basically forever -- and that he himself likes that idea. IIRC that was in an A16Z interview but I'm not sure.

Anecdotally: I don't watch "regular TV" but I do subscribe to Netflix, and I buy a lot of shows on my Apple TV (quality and reliability beat cost, for me). I recently subscribed to ShowTime just to watch the new Twin Peaks; maybe I'll stay after that, maybe not. I've thought about ditching my Netflix account because where I am it's sloooow, but every so often they have some awesome original content I can't find elsewhere, and I stay.

I'm sure I overspend, but I probably spend $100/mo on "stuff on TV." I'm sure a lot of other people do too. And my commitment to spending it on one thing versus another is really minimal.

I don't know if Snapchat will be good at the TV game, but I do know that just like Valley companies tend to "get" software more than LA companies do, the opposite is true of entertainment; and Snapchat has shown they have at least some clue what "the kids" want, which is a pretty huge deal.

If I were a media exec I would definitely want some kind of deal with Snapchat, if only to hedge my bets against the (to me, as a grownup) unknown.