The past few weeks of PARQOR mailings have had a general theme: how each of the leading streamers has been (re)positioning themselves for growth.

There is the popular path of pivoting into AVOD which market leaders Disney+ and HBO Max have opted to reach a larger total addressable market (TAM). Then there is Netflix zagging where the market is zigging, building out a longer-term pivot into mobile games.

WarnerMedia also seems to be making a more aggressive push into gaming, according to a recent interview with current CEO Jason Kilar. Although, that push seems to be focused more on "immersive persistent environments" and less on mobile gaming

It is early days for both pivots: there are no guarantees of success in either, and expectation-setting with investors generally has been conservative, under-promise and over-deliver messaging. That said, after the past two PARQOR mailings (Was Netflix's Gaming Strategy Revealed In Its Boss Fight Entertainment Press Release? and Is Netflix's Mobile Games Strategy or Epic Games Antitrust Strategy Better vs. Apple?) we have a market signal that Netflix's objective in gaming is targeting a weakness in Apple's dominance of mobile gaming. 

If that is indeed its objective - and, for the record, I believe it is - we do not have much insight into how Disney or WarnerMedia/Warner Bros. Discovery and leadership may be thinking about Netflix's gaming zig to their AVOD zag. Nor do we have much insight into how might Apple management be looking at Netflix after a surprise Oscar win on Sunday night. But, we can infer those dynamics from recent data and headlines.