A quick glance at Hollywood balance sheets, or Nielsen’s monthly Gauge report, underscores just how challenging the current moment facing Hollywood is.

On the Gauge , YouTube and Netflix dominate, with seemingly every other streaming service fighting for scraps, perhaps resigned to an ever-so-slight increase in viewership during a good month. In their earnings reports, YouTube and Netflix are seeing their revenue and cashflow accelerate by double digits (YouTube ad revenue alone closed in on nearly $10 billion last quarter), while most legacy media companies were either flat, down slightly, or perhaps saw single digit growth if they had a good quarter.

A quick glance at Hollywood balance sheets, or Nielsen’s monthly Gauge report, underscores just how challenging the current moment faci

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