"Sure, Paramount and Warner Bros. Discovery - and to a lesser degree, the TV news network formerly called MSNBC - underwent major corporate transformations. But considering how streaming is undergoing a change that resembles a return to the high-priced TV bundle, it remains to be seen to what extent the companies are charting a new course versus returning to a familiar trajectory. I mean, the name for WBD's streaming-and-studios spin-off is Warner Bros."
"What will be interesting to see is whether Warner Bros. comes to regret spinning off its cable TV networks (and whether Paramount's new parent Skydance Media opts to keep the formerly Viacom TV networks). As much as NBCUniversal's cable network carve-out seemed to set off a trend of companies exiting the traditional TV business to center themselves around streaming, streaming has come to resemble traditional TV. Cases in point:"
"I don't mean to downplay the debuts of ESPN Unlimited and Fox One. ESPN becoming fully available to cord-cutters and cord-nevers is a watershed moment. But it's a bit watered down by the fact that it's become nearly as expensive as traditional TV and is actually less cost-effective when you consider the long-tail cable TV networks (and actually watch any of those channels). Believe me, I did the math."
Summer industry moves delivered major corporate restructurings while signaling a return to legacy TV economics and distribution. Major companies spun off networks and refocused streaming brands, blurring distinctions between streaming-first strategies and traditional cable models. New direct-to-consumer offerings like ESPN Unlimited and Fox One expanded access for cord-cutters but carried pricing comparable to legacy pay-TV bundles. NBCUniversal's earlier network carve-out prompted peers to reevaluate holdings and strategy, creating uncertainty about whether network divestitures will be reversed. Overall, streaming evolution this season emphasized consolidation, expensive bundling, and a retrenchment toward familiar television industry structures.
Read at Digiday
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