Priced Out, Streamed In
Fisayo@fisayo
−1.6%
since Oct 3
The idea
I believe live events are pricing people out, so more value shifts to how we experience them remotely. This basket leans hardest into delivery platforms racing to make streaming feel better than being there, backed by rights and team owners who get paid regardless of venue, then immersive hardware, production tech, premium venues, and betting to round out the engagement layer. I hold a cash buffer and avoid single-name concentration, planning to stay in this for years unless the production quality gap between live and remote stops closing.
What it owns
- These platforms become the primary venue as live events move to screens where priced-out fans actually gather and watch. · NetflixIt is acquiring live sports and fights as the primary screen for fans who cannot attend in person., AlphabetYouTube carries premium live rights like NFL Sunday Ticket, making it central to where fans watch events they cannot attend., Walt DisneyIt is transitioning ESPN from cable to streaming, converting the largest sports brand into a direct-to-consumer platform., AmazonIt owns Thursday Night Football and other live sports rights, making the couch the default viewing location for Prime subscribers., fuboTVIt is built entirely on sports streaming to the home, a pure bet on audiences choosing couch viewing over stadium attendance.25%
- Teams and leagues collect media fees regardless of where their audience watches, turning the event itself into a durable revenue stream. · TKO GroupIt owns UFC and WWE outright, controlling scarce live content that generates licensing fees no matter where the audience watches., Liberty Media Formula OneFormula One collects media and sponsorship revenue globally, paid by broadcasters and platforms regardless of where fans watch., Atlanta Braves HoldingsIt is a publicly traded MLB team collecting revenue from a global fanbase, most of whom watch remotely rather than attend., Madison Square Garden SportsIt owns the Knicks and Rangers, scarce teams in the largest US market, collecting media revenue from distant fans watching at home., Manchester UnitedIt is a global club with a fanbase scattered worldwide, almost entirely monetized through media revenue and remote viewership.17%
- Headsets and devices narrow the gap between watching at home and being courtside, making remote viewing feel present. · Meta PlatformsIts Quest headsets already place viewers courtside in VR for live games, the most direct immersive at-home experience available., AppleVision Pro is building the immersive at-home experience, letting remote viewers feel present at concerts and games., Sony GroupIt operates on both sides: PSVR for immersive viewing and broadcast imaging technology that enriches the at-home experience.15%
- Real-time graphics, AI, and data infrastructure make broadcasts feel intimate and interactive, accelerating the shift from attendance to streaming. · NVIDIAIt supplies the chips powering AI and real-time graphics that make streams feel like courtside broadcasts., Unity SoftwareIts engine builds the virtual and real-time 3D spaces where remote viewers could gather and experience events together., SportradarIt converts live games into data feeds that power streams, apps, and betting, collecting revenue whenever remote engagement expands.13%
- As ordinary seats price out most fans, a few irreplaceable venues become luxury experiences that command premium pricing and margins. · Sphere EntertainmentThe Sphere is an irreplaceable venue offering an experience impossible at home, justifying premium pricing as ordinary seats price out crowds., Live Nation EntertainmentIt controls venues and ticketing, profiting directly from the high prices that drive ordinary fans to watch remotely instead., Madison Square Garden EntertainmentIt owns Madison Square Garden, an irreplaceable venue that can command extreme prices and per-event revenue from premium bookings.13%
- Live betting turns passive watching into active participation, deepening how couch viewers experience and stay engaged with events. · DraftKingsIt is the leading app turning couch viewing into active engagement, converting passive watching into participatory experiences through betting., Flutter EntertainmentIts FanDuel brand leads US sports betting, the engagement layer enabling couch viewers to participate actively in live events., Genius SportsIt supplies official sports data enabling live betting, collecting fees from every wager placed on any app by couch viewers.9%
- Companies in adjacent spaces that benefit from the same secular trends driving the core take. · The company acquired World Labs to expand its hardware capabilities alongside competing accelerator makers.3%
- Cash5%