That's a good point. They're desperately trying to outmaneuver the cable companies. So far, they're doing OK, but not great. While Netflix is big, Netflix is not very profitable.

Netflix is becoming more like a cable company, with a limited menu. Total access to a huge back catalog has been cut back. Netflix, though, doesn't own the pipe.

Owning the pipe for TV is so profitable that AT&T more or less gives away voice and data if you get their TV service. Internet without TV costs more than Internet with TV.