Streaming
State of Play
Revised Nov 1, 2026The moment. Netflix delivered its Q3 forecast, revenue up 12% to $12.9 billion at a 34.6% operating margin, and then lowered its own sights: Variety’s Brian Steinberg reports the 2026 ad revenue projection cut to $2.7 billion from $3 billion, blamed on delays to new ad products while a supply glut hands buyers leverage on price. The Pixel and The Trade Desk are the answer it has offered. The house kept moving: Bela Bajaria and film chief Dan Lin are out, Peter Rice is in, 1,000 jobs are gone, David Fincher has exited, and The Ankler’s Richard Rushfield is already handicapping the film job. Skydance closed its $110 billion Paramount-Warner Bros. Discovery merger and immediately looked like a company under pressure: a five-day office mandate paired with voluntary buyouts, a mandate to make 30 films a year, a reported $1 billion Elon Musk stake that Puck says is causing friction inside Warner Bros., and a review of whether to keep FreeWheel as its ad server.
The tension. Netflix is being asked to prove the ad tier can carry a slowing business while the engagement evidence goes the other way. Bloomberg’s Lucas Shaw reports customers opening the app on fewer days per month than two years ago; The Ankler counts Netflix’s share of Nielsen’s weekly originals chart down from 80% of titles in 2021 to 51%; Nobody Wants This opened its third season to 6.2 million views against 10.3 million for its first. Reed Hastings says the answer to YouTube is more and better shows, while YouTube takes a record 15.8% of US TV usage, more than twice Netflix’s share, and Instagram, Disney, Tubi and Amazon chase it into long creator video. Apple TV is running the opposite bet, with 18% of its catalog unscripted against Netflix’s 25% and HBO Max’s 72%. Sports is where the money still behaves: Thursday Night Football averages 17.7 million viewers on Prime Video through Week 7, up 12%, with advertisers up 6%, while automakers pull out of prime time for streaming and regional spots.
Who’s moving. Netflix, cutting its 2026 ad forecast to $2.7 billion. Bloomberg’s Lucas Shaw, on fewer qualified play days. Reed Hastings, on out-creating YouTube rather than copying it. Skydance’s David Ellison and Ynon Kreiz, on a five-day office and voluntary buyouts. Elon Musk, with a reported $1 billion stake. Paramount TV Studios, with three of Nielsen’s top four streaming slots in September. Comcast’s Michael Cavanagh, making deeper Peacock-YouTube bundling a priority. Amazon, at 17.7 million Thursday Night Football viewers. Apple TV, holding to scripted. Automakers, leaving prime time for streaming and local deals. Disney+, taking Channel 4’s linear feed in the UK and Ireland in early 2027. TVREV’s Tim Hanlon, on affiliates facing a 6% decline once the political money ends.
What the desk is watching. Whether the $2.7 billion forecast holds once the Pixel and The Trade Desk are live, and whether Skydance keeps FreeWheel or hands its streaming ad tech to Google.
Sarandos admits Netflix growth is slower than he wants
The Hollywood Reporter’s Tony Maglio reports that Ted Sarandos conceded at Bloomberg’s Screentime event that Netflix viewership grew just 2 percent in the first half of 2026, while live programming draws about 1 percent of viewing despite 5 percent of its content budget.
Shapiro: Paramount-AG settlement details reveal shareholders footing the bill
Media War & Peace’s Evan Shapiro reports that this week’s Media Odyssey podcast breaks down what the Paramount-AG settlement deal actually includes and why California AG Rob Bonta backed off.
Sports ad costs soar as broadcasters seek returns on media rights
eMarketer’s Marisa Jones reports that broadcasters are pushing sports ad prices higher as they work to recoup soaring media rights fees.
Bloys set to head combined HBO Max-Paramount+ streaming after Holland exit
Deadline’s Nellie Andreeva reports Casey Bloys will likely lead the combined Paramount-WBD streaming operation once the merger closes October 6, after Paramount counterpart Cindy Holland exited this week.
Skydance names Kreiz co-CEO with $31.5M bonus amid layoffs
The Ankler’s Sean McNulty reports Skydance’s new co-CEO Ynon Kreiz lands a $31.5 million restricted stock signing bonus and a 5-year contract while overseeing “cost savings” layoffs across the newly merged studio.
Netflix’s Sarandos can’t say how growth reaccelerates without WBD
nScreenMedia’s Colin Dixon reports that Netflix Co-CEO Ted Sarandos, in a Bloomberg Screentime interview with Lucas Shaw, struggled to detail how Netflix reaccelerates growth after losing the Warner Bros. Discovery bid, and sounded cool on launching a free ad-supported tier.
Paramount’s Cardinale: $6B merger savings mostly won’t be layoffs
Deadline’s Dade Hayes reports that Gerry Cardinale, architect of Paramount’s imminent $110 billion merger with Warner Bros. Discovery, says most of the promised $6 billion in cost savings will come from unifying tech stacks and real estate, not job cuts.
Judge approves Paramount-Warner Bros. Discovery merger settlement
TheWrap’s Lucas Manfredi reports Judge Araceli Martínez-Olguín signed off on Paramount’s settlement with 12 state attorneys general, clearing the last hurdle for its one hundred ten billion dollar merger with Warner Bros. Discovery.
DAZN expands NBA local rights footprint ahead of hub bid
TVREV’s John Cassillo reports that DAZN has acquired local rights to over a third of NBA teams for 2026-27, including exclusive deals with the Pacers, Cavaliers, Grizzlies, Timberwolves and Spurs.
Local TV anchors now direct and produce their own streaming newscasts
TVREV’s Tim Hanlon reports that Fox and ABC affiliates in Houston are having anchors like KRIV’s Caroline Collins handle video switching, graphics and audio while anchoring streaming newscasts, with Fox 10 Phoenix now listing combined producing, directing and anchoring as a hiring requirement.
Netflix’s Sarandos hints at adding a ‘Channels’ program for rival streamers
The Ankler’s Sean McNulty reports that Ted Sarandos signaled Netflix may add a “Channels” feature letting subscribers access Disney+, Peacock and others inside its app. He also voiced frustration with current hours-watched engagement trends on the platform.
Disney+ bundles with Indonesia’s Vidio, extends APAC distribution push
The Hollywood Reporter’s Patrick Brzeski reports Disney+ and Vidio are launching the Vidio Ultimate Disney+ All Screen Bundle, combining Disney films and Asian originals with Vidio’s local programming, live TV and sports rights like the Premier League and Champions League.
Delrahim: Paramount’s California exit threat on merger was ‘not a bluff’
TheWrap’s Lucas Manfredi reports that Paramount’s Makan Delrahim told TheGrill conference David Ellison’s threat to move the studio out of California absent a settlement was “not a bluff,” though he downplayed its role in the outcome, crediting a weak antitrust case instead.
Casey Bloys to run combined Paramount-Warner Bros. streaming business
Variety’s Michael Schneider reports that HBO chief Casey Bloys has won control of Paramount-Warner Bros.’ merged streaming operation, after Paramount’s Cindy Holland told colleagues she’s leaving ahead of the deal’s close.
Netflix plots ‘very broad’ theatrical run for KPop Demon Hunters sequel
Deadline’s Nellie Andreeva reports that Netflix co-CEO Ted Sarandos told Bloomberg’s Screentime the “KPop Demon Hunters” sequel, expected in 2029, will get a “big, broad, global” theatrical release.
Netflix and WWE expand partnership to cover Japan programming
The Ankler’s Sean McNulty reports that Netflix and WWE have expanded their partnership into Japan, with Netflix becoming the exclusive home for all WWE programming in the country starting the next day.
New York’s film tax credit fuels production boom as L.A. slumps
Variety’s Ethan Shanfeld reports that New York’s 30% refundable tax credit, backed by an annual $800 million pot, has pushed production spending up 57% year-over-year to nearly $1.06 billion in the second quarter of 2026.
Paramount streaming chief Cindy Holland exits ahead of WBD merger
The Hollywood Reporter’s Alex Weprin reports that Paramount’s direct-to-consumer chair Cindy Holland is leaving the company as its Warner Bros. Discovery deal nears, with CEO David Ellison said to be “optimizing for HBO stability” in the combined streaming business.
Greenfield: Ellison’s Paramount-Warner must become a platform, not just a studio
Business Insider’s Peter Kafka reports that analyst Rich Greenfield says Paramount Skydance and Warner Bros. Discovery must open their streamers to outside creators, mimicking YouTube and Netflix, since neither combined library has enough content diversity to train recommendation algorithms.
Waxman: tech, not streaming, now sets Hollywood’s power structure
TheWrap’s Sharon Waxman writes that Hollywood’s disruption is a symptom, not the cause, of a deeper shift in the balance of power from content to technology companies.
VideoWeek releases 2027 CTV Advertising Guide for Europe
VideoWeek’s Tim Cross-Kovoor reports the CTV Advertising Guide Europe 2027 is now free to download. It covers landscape maps for five markets, an interview with Prime Video’s Lisa Rousseau, and data from IAB Europe and EMARKETER.
Deloitte: media value is shifting from content to fan participation
MediaPost’s Stephanie Dolan argues entertainment is moving from a “Content Economy” into a “Participation Economy,” where audiences sharing, remixing and building communities around stories matters more than raw viewing time or subscriber counts.
Paramount+ buys three British A24 series for U.S. rights
Deadline’s Jesse Whittock reports Paramount+ acquired U.S. and select international rights to three A24 scripted shows: comedy “It Gets Worse,” coming-of-age drama “Major Players” and BBC fantasy adaptation “The Ministry of Time.”
Olivia Wilde’s Netflix snub for A24 paid off with $60M theatrical run
The Ankler’s Katey Rich reports that Olivia Wilde turned down a higher offer from Netflix to sell ‘The Invite’ to A24 after a grueling two-night Sundance bidding war.
Indie film buyers have money and no movies to spend it on
The Ankler’s Ashley Cullins reports that top agents including CAA’s Roeg Sutherland and WME’s Deb McIntosh describe a specialty market flush with buyer demand and capital after a $4.7 billion summer box office.