Unstoppable declines in linear television subscribers coupled with challenges in achieving profits in freshly minted streaming services have led most media companies on the road to consolidation. Over the next 12 months, Paramount, Warner Bros. Discovery, and NBCUniversal will likely be impacted by consolidation.
Warner Bros. Discovery has lost 2.5 million subscribers in its direct-to-consumer (DTC) division, encompassing HBO cable subscriptions and the Max and Discovery+ streaming services. The company also experienced a massive loss in advertising revenue for linear television, which still keeps the lights on at many studios.
Universal Pictures bifurcates the 18-month Pay-One Film Licensing Window for its streaming service Peacock and Amazon. After four initial months on Peacock, Universal’s live-action films will stream exclusively on Amazon’s Prime Video for ten months before returning to Peacock for the final four months.