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Define the media and entertainment industry (film, streaming, social media, and gaming).

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The most significant structural change in the last decade has been the shift from "appointment viewing" to "on-demand consumption." The rise of Netflix, Disney+, Max, Amazon Prime, and Apple TV+ has created a fragmented ecosystem. In the past, a network show like M A S H* or Friends could command 40% of the American audience. Today, a show is considered a "hit" if it breaks through the algorithmic noise long enough to generate a meme. a standard for clear