This summer has brought an abundance of news on the streaming front, with implications for owners of entertainment, sports, celebrity, and other property types looking for ways to get their IPs in front of TV viewers:
- Revenue growth. Several leading entertainment companies called out the revenue increases for their streaming businesses in their recent financial results. AMC Networks highlighted growth of 12% in Q2, versus a 4% decrease in net revenues as a whole, while Fubo said both revenues and subscriber numbers for its global streaming business in Q2 would exceed expectations in North America and the rest of the world alike. Warner Bros. Discovery said its streaming revenues were up by 8%. And Disney has been seeing strong growth in its streaming businesses for the last two quarters. (Separately, Disney will join Netflix and other services in not reporting individual subscriber numbers for its streaming channels, which include Disney+, ESPN+, and Hulu. It explained that the figures, while still on the rise, do not help create a meaningful picture of the financial success of that business.)
- Launches of new services. ESPN’s standalone streaming service, which recently announced that it would carry NFL and WWE content, is debuting on August 21. Pending regulatory review, the NFL hopes to assume a 10% ownership stake in the service, which will include programming from all ESPN cable networks and will cost $29.99 a month. ESPN will also gain trademark rights to the RedZone brand, enabling it to expand its use to sports beyond the NFL. Meanwhile, Roku launched Howdy, an ad-free subscription video service with unlimited access to thousands of titles from partners such as Warner Bros. Discovery and Lionsgate, for $2.99 per month. And Fox Corporation’s new Fox One debuts on August 21 for $19.99 a month, with 12,000 hours of on-demand content targeting cord-cutters and existing Fox cable subscribers. Fox One consolidates all of Fox’s live news, sports, weather, and entertainment content into a single service.
- Consolidation. Even as new standalone channels are coming to life, Disney said it will integrate Hulu fully into the Disney+ app in 2026. Consumers will still be able to subscribe to Hulu only, at least initially, and Disney+ subscriptions can also be purchased without Hulu. Hulu’s Hulu + Live TV brand will be integrated with Fubo, although again it can be purchased separately, and Hulu will expand internationally, replacing the Star network outside North America. For Disney, which purchased NBCUniversal’s one-third stake and assumed full ownership in Hulu in June of this year, the move cuts expenses and offers more bundling opportunities. The strategy is in keeping with industry trends in which networks are consolidating various services into one app in the hopes of lowering churn.
- Crackdowns on password sharing. HBO Max, a Warner Bros. Discovery business, announced that it would be more “aggressive” about policing subscribers who are sharing their accounts, with the results of that effort expected to start showing up in its financials as soon as the fourth quarter of 2025. HBO Max joined rivals including Netflix and Disney who have also toughened their policies against non-subscriber password sharing. The password-sharing phenomenon has been driven by the high cost of streaming subscriptions and the fragmentation of content; consumers want to watch individual shows on multiple networks, but subscribing to all of them is too much of a financial burden for many.
- Netflix continues to spur pop-culture trends. The Sony Animation-produced Netflix Original movie KPop Demon Hunters has dominated Netflix’ viewership this summer, with 158.8 million views, not to mention good reviews, stellar consumer ratings, massive fan-fiction programs, and Billboard-charting music from its in-world acts. Not only has it been a hot property in the moment, but it is showing signs of longevity. This is the latest pop-culture hit from Netflix, which has also been responsible for the success of breakout properties such as Squid Game and Stranger Things. Netflix’ ability to spur pop-culture trends is notable in that its highest-profile properties tend to be original, in a world where franchise-based spin-offs typically dominate the conversation. KPop Demon Hunters, which is about three pop-singer/slayers, will debut in movie theaters later this month as a sing-along experience. Following the IP’s on-screen success, merchandise is now available through Hot Topic, Amazon, and other retail channels.
The licensing community at large is keeping tabs on the ever-changing streaming landscape. Streamed storytelling has very quickly become a core part of any integrated content or marketing strategy to reach today’s consumers, whatever their schedules, behaviors, and preferences, so any change in streamers’ business models or strategies could have implications for IP owners’ businesses as well.
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