西蒙顾和：2025年美国流媒体行业研究报告：新一代增长路径探析（英文版）

Growth is no longerabout adding moresubscriptions. Viewers are spending morewithin the services they already have,making retention and upsell the keybattlegrounds. Netflixand Disney's moveto stop sharing subscribernumbers andARPU underscores this reality.