One of our regular areas of focus on the Razor’s Edge is the streaming space, and there are few people who are following that space as closely as Andrew Freedman of Hedgeye. To the point where his name has come up on our episodes more than once. So it was long overdue to have him join the Razor’s Edge to share what he’s seeing.

We focus on what’s going on in streaming and whether all the new entrants will have the endurance to make it in the long-term. We then drill into the story around FuBo, a company that Andrew has been vocally bearish about. We wrap up streaming with a look at Netflix’s next act, and then look into the new emergence of live audio as a competitive opportunity, and wrap up with a few questions sourced from Twitter followers.

Topics Covered

• 3:00 minute mark – What’s interesting about streaming right now, and the rise of the laggards
• 13:00 – Is the streaming winnowing coming?
• 22:00 – The pace and rhythm of great content
• 27:30 – The FuBo bear case
• 33:30 – FuBo’s target audience and other bull case points
• 43:00 – The direction of sports programming and why this won’t be a replay of Netflix circa 2011 or Roku circa 2019
• 48:30 – Netflix’s next act
• 56:30 – The audio space, and/or “Spaces” – Twitter, Spotify, Clubhouse, Facebook
• 1:08:00 – Listener questions – Pinterest in a reopening environment; ROKU vs. TWTR in 10 years; Square buying Tidal; MTCH vs. BMBL

Andrew's work at Hedgeye: https://accounts.hedgeye.com/products/communications_pro/558!559

Hedgeye’s Terms of Service: https://www.hedgeye.com/terms_of_service

Definition of some terms:

• SVOD – Subscription Video on Demand
• AVOD – Advertising based Video on Demand
• OTT – Over the Top, TV delivered over the internet rather than through traditional cable (also an ‘80s movie)
• RSN – Regional Sports Networks
• VMPVD - Virtual Multichannel Video Programming Distributor