Netflix's latest quarterly report makes us wonder: Is it a tech company or an entertainment company? Julia experiences live sports streaming success--and failure. HBO Max takes a victory lap. And why does Showtime still exist? Plus, your letters!

Edited by Steven Schapansky.

It's a new year! Disney has moved another Pixar movie out of theaters and onto Disney+. Why "Don't Look Up" was the perfect movie for Netflix. "Yellowstone" is a legitimate hit and yet nobody is truly happy about it.

Edited by Steven Schapansky of Castria.

Jason and Julia are off for the holiday, but before they left, they took time to record this special episode featuring answers to listener letters! (Only two-thirds of the letters are from people named David.)

We dig into why CNN+ has to exist, even though it doesn't make a lot of sense. Also, the strange divisions between what's on HBO and what's on HBO Max, we talk a surprising amount about The CW (again), and Netflix has... a blog?

Diving into Netflix's brand new global and regional top 10 lists, and all the things they tell us about the global streaming giant. Also, ViacomCBS corrects its Star Trek mistake, and why Netflix is bad at movies.

Disney+ came out of the gate strong, but its growth is waning. What does it need to do to reach a broader audience? It's all about the 'Hamiltons.' Also, ViacomCBS pulls the rug out from underneath international Star Trek fans.

What happens when a TV network has a potential big hit, but doesn't have a streaming strategy to find an audience? Are sports leagues finally going to risk their fat cable contracts in order to build a local streaming service? And what's up in Australia?

There's a lot going on right now at Netflix, which is trying to manage growth, changing how it reports viewership, and facing internal criticism for some of its programming.

"Squid Game" and Netflix's international strategy, the difference between a hit and a franchise, "Law & Order" and TV network brand extensions, successes and failures at the box office, and the best streaming services for scary movies.

Downstream is about the future of streaming media. Tech and entertainment companies are vying to see who will become the media giants of the 21st century. Julia and Jason tell you a little about their background and what they'll be covering.