Pershing Square Activist Presentation Deck
Subscription Video Streaming has a Vastly Superior
Value Proposition Relative to Traditional Pay TV
Traditional Pay TV
Subscription Video Streaming
X Nearly a third of viewing time is allocated to
commercials
X Restricted to viewing content airing at a
particular time on a specific channel
X
X
Cumbersome set-up and cancellation
Consumption limited to television
X Constrained by physical cable connection
X TV series subject to a weekly/daily episode
release cadence
X Film content subject to windowing (only
available months after theatrical release)
Commercial-free
On-demand viewing
ā Frictionless on-boarding
Ability to consume content across any connected
device (mobile, tablet, PC)
Ability to consume content anywhere where
streaming service is available and often offline
Entire season typically released at once, allowing
for binge-able viewing
Simultaneous release to all subscribers
Despite a significantly better customer experience, streaming video services like Netflix are priced at
~$15 per month or less whereas traditional Pay TV packages cost greater than $80 per month in the U.S.
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