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This has democratized production (anyone with an iPhone can make a viral hit) while hyper-concentrating distribution (the top 1% of creators capture 80% of the ad revenue). is now a formidable competitor to traditional cinema and TV

The shift from scheduled programming to video-on-demand (VOD) is the most significant structural change in decades. Platforms like Netflix, Disney+, and Amazon Prime have moved beyond mere distribution; they are now the primary engines of original content production. But the revenue models are splintering: This has