BTIG analyst Richard Greenfield says Netflix is making significant progress toward its goal of replacing linear TV.
Greenfield says the traditional media ecosystem isn't equipped to transition away from the linear TV model because it's too dependent on untargeted ads and big bundles and lacks the "technical expertise" to build direct-to-consumer businesses.
"It is almost comical that as traditional TV programmers shifted from linear to digital-on-demand, their greatest innovation has been to disable fast-forwarding -- forcing consumers to suffer through ads," Greenfield wrote in a research note.
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Neal McLain