Multi-channel networks (MCNs) have carved out a space in the online video ecosystem in recent years, leading traditional broadcasters to move into MCNs as a relatively low-risk way to reach younger demographics — though there is some question about the ability to monetize such investments. MCNs consist of multiple individual user-created online video “channels” that are amalgamated and managed by a single entity. Those channels were originally on Alphabet Inc.’s YouTube, but MCNs then expanded to various social media channels, including Facebook Inc.’s platform. “They...