This is the best summary I could come up with:

Netflix’s days of chasing prestige might be rapidly coming to an end with this sharp reversal of the streaming golden age replaced by something akin to Spike TV circa 2005.

“This should add some fuel to our new and growing ad business,” Netflix co-CEO Ted Sarandos said in an earnings call after the announcement.

But, if it doesn’t, then spending $5 billion to secure the rights for WWE Monday Night Raw for the next ten years means Netflix subscribers could see another price hike in their future — whether they like wrestling or not.

So it’s got whatever this long-delayed and troubled adaptation of Avatar: The Last Airbender is, but also Young Sheldon and Suits, and a wealth of foreign language programming.

You make money spending less on it than your originals, the place you’re buying from gets to have it on their service, too, and everyone looks nice and friendly and competitive in case the FTC comes around.

Eventually, this strategy of Netflix’s — to rely on its size, content bought from other streamers, and a graveyard of prematurely canceled originals — could struggle.

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