Paul, I give up
It's like talking against a wall... Well, a tad more fun than that, but a waste of time, you completely ignore arguements anyway.
If you would at least acknowledge some things people tell you, that would be a start, but you blatantly ignore 100%.
One thing I never mentioned, was that all these awesome production companies you mentioned, should have made tons of money online, since their conversion and retention would be sky high. But yet, it is not. Because content might be important, but it needs to be adapted to the medium!! A high-quality 3 hour DVD might be important since quality is everything you get there. But on a computer screen, 20-50 minute clips, massive amounts of content, far more than on one DVD... none of that you even pretend to begin to understand.. It does not matter if you think I do not know porn. I do not need to know porn. I need to know how to sell things online. Actually, I do not even need to know that. I have a team that knows that. I am simply good, very good, at M&A and Synergies.
Also, very important, you keep mentioning that I am ignoring the retail revenue. What YOU ignore is that markets evolve. More people buy, costs of distribution and production drops, then the cost per item drops. That's how markets work. It's a fundamental thing needed to evolve the market. As others have told you also, 10000 copies sold at retail of 10000 releases each year, is complete and utter nonesense. it's much closer to 2000 copies of 10000 releases each year. so 20 million copies sold. That also is not avg of $30 per copy, since back catalog back then already sold in bundles, and for less than $30 a copy. But let's just pretend it was $30. That's 600m USD.
Compare this to paysite memberships. That's 20 million memberships a year, 1.66m memberships a month, 55555 memberships a day. At retention of just 1.5 months on avg across the net, that's 37000 sales a day needed to generate that revenue. Among the Top 10 programs, that's just 3700 sales a day. I can GUARANTEE that this number is easily beaten!
But on top of this, profit margins are also much much higher than retail, wholesale or production companies had on the DVDs.