AT&T, Comcast are great examples of companies that have tried to expand into online video distribution, and completely lost out to companies with better software management practices. Both of these companies had a huge leg up 10 years ago, in terms of customer base and equipment (set top boxes already present in many US households). Neither of them is more than a small blip now on Netflix's radar now, who have been able to leapfrog into installing their software on smart TVs. The margins they have and their growth rates are much, much smaller than software centric competitors.