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.
Paramount Australia bundles World Cup ads with new attention-measurement push
Variety Australia’s Natasha Lee reports Paramount Australia unveiled its 2027 upfront slate, led by the FIFA Women’s World Cup, Australian Ninja Warrior and a Melanie Lynskey drama on Erin Patterson.
Traditional TV still owns sports and news despite streaming’s overall lead
The Measure’s Eleanor Semeraro reports that Inscape’s Q2 2026 TV Market Trends Report found cable, satellite and over-the-air sources accounted for two-thirds of sports viewing time on smart TVs, while news skewed even more traditional at 75.8%.
Rushfield handicaps the race to be Netflix’s next film chief
The Ankler’s Richard Rushfield reports that Netflix must now pick a successor to run its film division following Dan Lin’s departure, a search he previously called correctly in 2024.
‘Nobody Wants This’ S3 opens to 6.2 million views, down from prior seasons
Variety’s Selome Hailu reports that “Nobody Wants This” Season 3 drew 6.2 million views in its first four days on Netflix, down from 10.3 million for Season 1 in 2024 and 8.6 million for Season 2 in 2025.
SAG-AFTRA: streaming bonus fund reaching under 1% of members
Deadline’s Katie Campione reports that SAG-AFTRA revealed at its national board plenary that roughly $1.5 million from its 2023-negotiated streaming success bonus fund will reach about 700 performers for high-budget SVOD work released in 2024.
Survey: only 7% watch local news via a station’s own app
TVREV’s In the Vicinity podcast covers new Future of TV Live survey data from Ring Digital founder Brian Ring, who finds pay-TV reliance for local news has fallen to 35% while social, YouTube and free streaming apps pick up the slack.
Amazon takes international rights on A24’s $200M ‘Elden Ring’ film
Deadline’s Andreas Wiseman reports that Amazon MGM has pre-empted market interest in A24’s “Elden Ring,” securing international pay-1 streaming rights ahead of next week’s American Film Market.
Combined Paramount/WBD would top NBCU in US TV ad exposure time
VideoWeek’s Tim Cross-Kovoor reports that Comscore’s “The Score” shows NBCUniversal and Versant combined led US TV ad exposure time in August at 17.5 percent, but a merged Paramount-WBD would top the chart at 23.9 percent.
Prime Video streams TV’s first fully AI-made series
The Ankler’s Erik Barmack reports that Prime Video is now globally streaming “Castle Walls,” a two-episode melodrama from Turkish producer Ay Yapım built with AI doing much of the visual work.
Netflix cuts 2026 ad revenue forecast to $2.7 billion from $3 billion
Variety’s Brian Steinberg reports that Netflix rolled back its 2026 ad revenue projection to $2.7 billion from $3 billion, citing delays in rolling out new ad products, as streaming supply glut gives buyers leverage on pricing.
Instagram, Netflix, Disney chase YouTube’s lead in creator video
Axios’s Kerry Flynn and Sara Fischer report that Instagram is testing 90-minute videos and an Apple TV app, while Netflix, Disney, Tubi and Amazon strike video-podcast deals as YouTube captured 15.8% of U.S. TV viewing in August, per Nielsen.
Car ads vanish from prime time as automakers chase streaming, local deals
The Wall Street Journal’s Patrick Coffee reports automakers are cutting national brand ads on linear TV for targeted streaming and regional sales spots, with auto’s ad spend share set to fall below 10% this year, down from 13% a decade ago.
Apple TV’s scripted-only bet pays off in awards and signups
StreamTV Insider’s Bevin Fletcher reports that Ampere Analysis finds Apple TV is the only major U.S. streamer increasing scripted content while rivals lean into unscripted fare, with just 18% of its catalog unscripted versus Netflix’s 25% and HBO Max’s 72%, per Ampere and Antenna data.
Jay-Z to headline 2027 Apple Music Super Bowl halftime show
Variety’s Steven J. Horowitz reports that Jay-Z will headline the Apple Music Super Bowl LXI Halftime Show on Feb. 14, 2027, at SoFi Stadium, with Roc Nation producing and Hamish Hamilton directing.
TNF audience up 12% on Prime Video, skews six years younger than linear NFL
Sports Business Journal’s Austin Karp reports that “Thursday Night Football” is averaging 17.7 million viewers through Week 7 on Prime Video, up 12% year over year.
Low-budget ‘Clayface’ outperforms Warner’s $170M ‘Supergirl’ bet
The Ankler reports that Warner Bros.’ $30 million R-rated “Clayface” opened to $24 million, drawing an A-minus CinemaScore and an audience 73 percent under 35, offering a cheaper model after “Supergirl” opened to $38 million on a $170 million budget.
YouTube TV leaps to No. 1 in streamer promo reach as football returns
StreamTV Insider’s Bevin Fletcher reports that YouTube TV surged to the top of iSpot’s Streamers TV Promo Power Ranking in September with a 13.35% share of linear promo reach, up from just 0.97% in August.
Netflix redesigned its app around Apple’s foldable iPhone Duo
Lowpass’s Janko Roettgers reports that Netflix designers rebuilt their mobile app after testing Apple’s iPhone Duo, which supports tablet, book and tabletop viewing modes plus multitasking alongside other apps while watching live sports.
Disney+ to carry Channel 4’s linear feed and shows in UK, Ireland
Variety’s Alex Ritman reports that Disney+ will launch a Channel 4-branded section in the U.K. and Ireland in early 2027, carrying Channel 4’s live HD channel plus day-and-date on-demand shows like “Maya” and “Celebrity SAS” at no extra cost to subscribers.
Sony Classics’ Tom Bernard on why Oscar campaigns now favor the best film
The Ankler’s Katey Rich reports that Sony Pictures Classics co-president Tom Bernard, speaking at the Montclair Film Festival, credited the Academy’s screening room app with making Oscar wins track more closely to quality films, reducing “How did that win?” moments.
Lionsgate, Steven Paul’s SP Media launch joint film venture
Deadline’s Anthony D’Alessandro reports that Lionsgate and Steven Paul’s SP Media are forming a joint venture, with SP Media making a capital investment and producing independent films for Lionsgate to distribute, while Lionsgate holds the majority stake and manages the venture.
Microdrama glut: 32,000 titles in 3 months, still no breakout hit
The Ankler’s Elaine Low reports that the 16 leading vertical video apps outside China released 32,000 microdrama titles in three months, more than 10,000 new shows a month, yet none has become a category-defining hit.
Skydance pairs five-day office mandate with voluntary buyouts
The Hollywood Reporter’s Alex Weprin reports that Skydance’s David Ellison and Ynon Kreiz told staff in a memo they are imposing a mandatory five-day return-to-office policy while launching a voluntary buyout program with personalized exit terms.
Netflix Q3 revenue up 12%, ad tier now leads subscriptions
Advanced Television’s Nik Roseveare reports that Netflix delivered on its Q3 forecast with revenue up 12 percent year-on-year to $12.9 billion and operating margin at 34.6 percent.
Comcast eyes deeper Peacock-YouTube bundling after second profitable quarter
MediaPost’s Wayne Friedman reports that Comcast co-CEO Michael Cavanagh told analysts a deeper marketing tie-up between Peacock and YouTube Premium/YouTube TV is a priority.