“for a content-based business i think there is a decision point that every content-based app needs to make which is are you a platform to enable other content providers to reach customers... the flip side being a platform is to be a content producer”

Platform vs. Content Producer — You Can't Do Both Without Diluting Your Moat

Content apps must pick a lane: Roku-style platform aggregating third-party content, or Peloton-style producer owning original content. Trying to do both forces heavy content investment while simultaneously ceding distribution to channels where users already are. Pick the model that fits your user relationship and build the moat that model enables.