What are the two core levers of streaming revenue, and how do they interact? A service with 100M subscribers at $10 monthly ARPU generates how much annual revenue?

Streaming revenue = subscribers x ARPU: 100M subs x $10 per month x 12 = $12B of annual revenue. The two levers pull against each other - price increases lift ARPU but push marginal subscribers to churn, while discounting and cheaper tiers grow subs at the cost of ARPU. Mature services shift emphasis from subscriber growth to ARPU (price rises, ad tiers, paid sharing) once the addressable base is penetrated. When analyzing a streamer, always decompose reported revenue growth into the sub component and the ARPU component - the market rewards them differently because ARPU-led growth drops to margin faster.