Streaming into the Future: Maybacks and Plex's AVOD Play for Growth

The media landscape is undergoing a seismic shift as ad-supported streaming (AVOD) and Free Ad-Supported Streaming TV (FAST) platforms gain traction. At the forefront of this trend is Authentic Holdings, Inc. (OTC: AHRO), whose subsidiary Maybacks Global Entertainment has struck a pivotal partnership with Plex GmbH. This alliance, combined with the recent acquisition of Goliath Motion Picture Promotions, positions AHRO to unlock exponential growth in content monetization. Let's dissect why this could be a game-changer—or a gamble.

The AVOD/FAST Gold Rush: Why This Partnership Matters

Maybacks' deal with Plex (announced in June 2025) grants access to 25 million users across 100+ countries, distributed via smart TVs, consoles, and mobile devices. For context, consider this:

The partnership leverages AVOD/FAST models, which allow Maybacks to monetize its content through targeted ads while expanding its audience. This is a strategic pivot from Goliath's traditional film sales model (e.g., licensing to HBO, AMC) to a global, direct-to-consumer distribution strategy. The iDreamCTV network's brands—Toro TV, Comfy TV, Winnie's World, and iCowboy—are now primed to capitalize on AVOD's rising popularity, a market projected to hit $41 billion by 2027.

Unlocking Synergies: Goliath's Content Library as Fuel

The $11 million acquisition of Goliath in May 2025 was no accident. It brought 40,000+ film and TV titles into Maybacks' arsenal, including gems like Open Range (Kevin Costner), Elvis Presley's Blue Hawaii, and In Living Color. This library isn't just nostalgic fluff—it's a demographic bridge. Younger audiences crave fast-paced, niche content (e.g., wrestling on iCowboy), while older viewers gravitate toward classics.

The Goliath deal also included Maureen Cooper, its founder, who expanded its reach from 26 to 61 Designated Market Areas (DMAs). With the Plex partnership, Maybacks aims to hit 100 DMAs in two years, boosting ad revenue per 30-second spot to $50–$100 (up from $15 today). The math is simple: more eyeballs + premium content = higher CPMs.

Why AVOD/FAST is a Strategic Masterstroke

1. Scalability: Plex's platform reduces reliance on costly third-party distributors. Instead, Maybacks can own the viewer relationship, retaining more ad revenue.
2. Cost Efficiency: Goliath's library eliminates licensing fees, as Maybacks now owns its content outright.
3. Market Timing: AVOD/FAST is booming as consumers shun paywalls. Platforms like Tubi and Pluto TV have surged, and Maybacks is now in the game.

The convertible preferred stock financing structure (with a 3-year lock-up period) further insulates shareholders from dilution, buying time to execute growth. The $3.8M discount to Goliath's $14.8M valuation also suggests AHRO secured a bargain.

Risks: The Elephant in the Server Farm

While the strategy is ambitious, pitfalls loom:
- Competition: Netflix, Disney+, and Amazon Prime dominate the streaming space. Maybacks must carve a niche—likely in niche genres—to survive.
- Regulatory Scrutiny: Antitrust concerns could arise if AHRO's DMA expansion raises red flags.
- Execution: Hitting 100 DMAs and ad rate targets demands flawless integration of Goliath's library with Plex's tech. A misstep could crater investor confidence.

Forward-looking statements in the 8-K filing also warn of “risks beyond the company's control,” including macroeconomic shifts.

Investment Thesis: Buy the Vision, But Mind the Lock-Up

Bull Case: If Maybacks executes flawlessly, the $41B AVOD market and Plex's 25M users could propel AHRO's stock. The 500% ad sales growth in early 2025 hints at momentum.

Bear Case: Competitors could squash Maybacks' niche, or regulatory hurdles could stall expansion. The 20% annual conversion limit on preferred stock post-lockup also poses dilution risk.

Recommendation:
- Buy AHRO if you believe in AVOD's growth and Maybacks' execution prowess. The $11M asset purchase and locked-up shares provide a safety net.
- Wait if you're wary of execution risks or prefer safer bets. Monitor user acquisition rates on Plex and ad revenue metrics closely.

Final Analysis

The Maybacks-Plex alliance and Goliath acquisition form a compelling playbook for content-driven growth. With a treasure trove of titles and a scalable distribution partner, AHRO is well-positioned to capitalize on the AVOD boom—if it can outmaneuver giants and execute smoothly. For investors, this is a high-reward, high-risk bet on the future of free streaming. The next 12–18 months will tell if AHRO's gamble pays off.

Stay tuned for updates on AHRO's Q3 earnings and Plex integration milestones.