Panoply just decided to get out of the content business. This seems like a clear signal (albeit from one company) that the space is starting to mature. For a while, they were all over the place, strategically. Creating content, distributing, creating a paid app, etc. But, as the market grows and goes from “interesting” to “real”, they are focusing their strategy to zero in on monetizing via ads and adtech. It’s their way to win in a market that could be analyzed via what Ben Thompson would call “aggregation theory“