PSKY News & Events

"Now Streaming" is The Fly's weekly recap of the stories surrounding the biggest content streamers.DISNEY RESULTS:This week, Disneyreported better-than-expected Q2 earnings and revenue. Of note, Disney Entertainment subscription and affiliate revenues grew 14% compared to the prior-year quarter, with the Fubo transaction contributing 5%. Disney Entertainment advertising revenues grew nearly 5% compared to the prior-year quarter, with the Fubotransaction contributing more than 1%. "This growth reflects our expanding streaming revenues more than offsetting our declining linear revenues," the company said. "We currently generate more Entertainment subscription and affiliate fees and advertising revenues from SVOD than linear TV, and we expect the mix shift from linear toward streaming to continue." Looking ahead, the company said it continues expect double-digit growth in adjusted EPS in fiscal 2027, excluding the impact of the 53rd week.WARNER BROS. DISCOVERY RESULTS:Warner Bros. Discoveryalso reported quarterly results this week, with Q1 revenue in line with consensus estimates but GAAP earnings missing. Warner Bros. noted that the sharp net loss for the quarter includes a $2.8B termination fee to Netflix.Of note, the company said it is "on track" to surpass 150M HBO Max subscribers by year-end. "Over the last four years, we have consistently reiterated the imperative to scale HBO Max as a global streaming service," the company said. "Today, that vision has been successfully achieved. We launched HBO Max in the U.K. and Ireland on March 26th, following strong launches in Germany and Italy at the beginning of the year. With these launches, HBO Max is now available in all of our key target markets globally, and the multi-year international rollout of HBO Max is largely complete. While these recent launches represent a significant expansion of HBO Max's global availability, we also see substantial runway for continued penetration growth in existing markets driven by the core of our product, which remains high-quality content that inspires consumer demand and engagement. Fueled by global tentpole titles like A Knight of the Seven Kingdoms and The Pitt, our increasing investment in local language content such as Like Water for Chocolate and Dona Beja, and access to marquee events like the 2026 Olympic Winter Games, we meaningfully exceeded our guidance of more than 140 million global streaming subscribers at the end of the first quarter. With ongoing momentum, we are on track to surpass 150 million global subscribers by the end of 2026."IAC/DILLER:IACChairman Barry Diller said he would be willing to acquire CNN, arguing the network is underinvested and in need of innovation in both its digital and broadcast offerings, while expressing confidence that it remains a strong asset if modernized, The Wall Street Journal's Cara Lombardo reported. CNN is owned by Warner Bros. Discovery, which Paramount Skydanceagreed to buy in an $81B deal earlier this year. Diller said he would "absolutely" buy CNN, saying at the WSJ's Future of Everything Festival that "I would do it tonight and tomorrow night. Before they ruin it any further. Hopefully before it's extinct, which, I mean, it's not gonna be."PARAMOUNT RESULTS:On Monday, Paramount Skydance reported upbeat Q1 results but provided a conservative revenue outlook for Q2, with the company noting that the Warner Bros. Discovery deal is "on track" to close in Q3. Looking to streaming, Paramount said that DTC revenue grew 11% year-over-year to $2.4 B, led by 17% growth at Paramount+, which added 700,000 subscribers, or 1.9M excluding the exit of international hard bundle subscribers. The company added that it continues to expect accelerating DTC revenue and profit in 2026.FUBO RESULTS:Meanwhile, FuboTV reported mixed Q2 results this week, though it reiterated its "confidence" in its FY26 adjusted EBITDA target of at least $300M. "Looking ahead, we are making progress on multiple new integrations with Disney, leveraging the content portfolios of Fubo and Hulu + Live TV, which are expected to drive sustained subscriber, revenue and Adjusted EBITDA growth while delivering on the consumer promise of our business combination," the company said.AMC NETWORKS RESULTS:AMC Networksreported lower-than-expected Q1 adjusted earnings per share, though revenue beat consensus. Looking ahead, the company reiterated its FY26 revenue outlook. Commenting on the quarter, CEO Kristin Dolan said, "AMC Global Media delivered another quarter of double-digit streaming revenue growth and robust free cash flow generation. We are tracking to plan across all key metrics and are pleased to reiterate our financial outlook for the year. During this changing time in media, we continue to follow our own differentiated playbook as a studio-driven owner of world-class IP, fully distributed across a wide range of owned and partner platforms."NETLIX/NFL:Netflix is near a deal with the National Football League that appears likely to include the week one game in Australia, a game the day before Thanksgiving, and the Christmas games, Puck News' John Ourand reported Thursday.PRIME VIDEO CLIPS:On Friday, Amazonsaid that Prime Video is bringing a new way to experience content on your phone. Clips-a scrollable, short-form video feed that first launched with NBA highlights on the NBA collection page during the 2025-26 season - is expanding to include moments from movies and series across the Prime Video experience. "As a first-stop entertainment destination, Prime Video offers customers a vast selection of premium content, and we want to make it as easy and seamless as possible for them to discover what's most relevant," said Brian Griffin, director of global application experiences at Prime Video. "Clips gives customers a whole new way to browse with short, personalized snippets tailored to their interests. Whether they have a few minutes to scroll or are looking for something to watch when they have more time, entertainment is just a tap away."STOCK PLAYS:Other publicly traded companies in the space include Comcast, Fox, Apple, and Roku.

Paramount Pictures (PSKY) and Warner Music Group (WMG) have announced a multi-year, first-look deal. "The companies will partner on theatrical films, drawing on the lives and music of WMG's legendary and contemporary roster of iconic artists and songwriters. WMG and its production partner, Unigram, led by Amanda Ghost and Gregor Cameron, will work with Paramount to develop each project in collaboration with the artists and songwriters or their estates," they stated. Robert Kyncl, CEO of Warner Music Group, said: "This collaboration with Paramount unites two forward-looking and innovative companies, and together we're taking a fresh approach to the space. Every artist deserves to tell the stories behind their life and music in their own creative way, and we're excited to partner with our incredible talent and world-class filmmakers to bring these stories to the big screen, growing their audiences around the world."

The major averages saw a broad advance following a report from Axios that the U.S. and Iran are nearing an agreement to end the war. Crude has gone from the primary headwind to a tailwind almost overnight, falling back below $100. Q1 growth is tracking near 25%-30%, one of the strongest rates since 2021, and estimates for the next 12 months are still being revised higher. AI remains the center of gravity, with AMD becoming the latest AI-linked supplier to post a strong print.1. STOCK NEWS:Disneyreportedand provided its outlook for FY26 and FY27AMDreportedand provided upbeat Q2 revenue guidanceCVS Healthprovided areport for Q1Uberreported, with gross bookings up 25% year-over-yearCorningand Nvidiaannounced a, with Nvidia getting a warrant to buy up to 15M Corning shares2. WALL STREET CALLS:AMDto Buy or equivalent ratings at Goldman Sachs, Bernstein and Seaport after its Q1 earnings beatPalantirto Buy at Argus amid accelerating revenue growthMonster Beverageto Buy at Rothschild & Co RedburnRedditto Accumulate from Buy at Phillip SecuritiesTransMedicsto Perform at Oppenheimer3. AROUND THE WEB:DeepSeek is nearing a $45B valuation amid investment talks, FT reportsSamsung'smarket cap surpasses $1T, Reuters reportsAppleis in a $250M settlement over its delayed "AI Siri," FT saysIAC'sBarry Diller said he would "absolutely" buy CNN, WSJ reportsPayPalplans to cut 20% of its staff in the next few years, WSJ says4. MOVERS:Oscar Healthrose after the company reported sharplyDaVitawas higher after providing anfor FY26 earnings per shareLive Nationgained after multiple analystson the stock following Q1 resultsFlutter Entertainmentwas lower afterthat FanDuel CEO Amy Howe has been oustedCriteofell after Wells Fargothe stock amid U.S. customer pressure5. EARNINGS/GUIDANCE:Kraft HeinzreportedJohnson Controlsprovided areportDeluxereportedAngireportedLumentumreportedINDEXES:The Dow rose 612.34, or 1.24%, to 49,910.59, the Nasdaq gained 512.82, or 2.02%, to 25,838.94, and the S&P 500 advanced 105.90, or 1.46%, to 7,365.12.

The major averages were broadly higher at midday following a report from Axios that the U.S. and Iran are nearing an agreement to end the war. Crude has gone from the primary headwind to a tailwind almost overnight, falling back below $100. Q1 growth is tracking near 25%-30%, one of the strongest rates since 2021, and estimates for the next 12 months are still being revised higher. AI remains the center of gravity with semis and hyperscalers leading again, with AMD becoming the latest AI-linked supplier to post a strong print.1. STOCK NEWS:Disneyreportedand provided its outlook for FY26 and FY27AMDreportedand provided upbeat Q2 revenue guidanceCVS Healthprovided areport for Q1Uberreported, with gross bookings up 25% year-over-yearCorningand Nvidiaannounced a, with Nvidia getting a warrant to buy up to 15M Corning shares2. WALL STREET CALLS:AMDto Buy or equivalent ratings at Goldman Sachs, Bernstein and Seaport after its Q1 earnings beatPalantirto Buy at Argus amid accelerating revenue growthMonster Beverageto Buy at Rothschild & Co RedburnRedditto Accumulate from Buy at Phillip SecuritiesTransMedicsto Perform at Oppenheimer3. AROUND THE WEB:DeepSeek is nearing a $45B valuation amid investment talks, FT reportsSamsung'smarket cap surpasses $1T, Reuters reportsAppleis in a $250M settlement over its delayed "AI Siri," FT saysIAC'sBarry Diller said he would "absolutely" buy CNN, WSJ reportsPayPalplans to cut 20% of its staff in the next few years, WSJ says4. MOVERS:Oscar Healthrises after the company reportedDaVitahigher after providing anLive Nationgains after multiple analystson the stock following Q1 resultsFreshworkslower afterCencorafalls despite provided areport for Q25. EARNINGS/GUIDANCE:Kraft HeinzreportedJohnson Controlsprovided aDeluxereportedAngireportedLumentumreportedINDEXES:Near midday, the Dow was up 1.10%, or 544.16, to 49,842.41, the Nasdaq was up 1.47%, or 373.51, to 25,699.63, and the S&P 500 was up 1.10%, or 80.16, to 7,339.38.