Will Netflix overtake YouTube if they buy Warner Bros. Discovery?

No, even with Warner Bros. Discovery, Netflix's projected viewership share would still be less than YouTube's.

What is Netflix's current U.S. viewership share?

As of November, Netflix held 8% of total U.S. viewership.

Why is Netflix pursuing Warner Bros. Discovery?

Netflix believes the fundamental viewership data presents a strong case for regulators to approve the acquisition deal.

Home / Business and Economy / Netflix Eyes Warner Bros. Deal, Still Trails YouTube Viewership

Netflix Eyes Warner Bros. Deal, Still Trails YouTube Viewership

8 Dec, 2025

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Summary

Netflix would gain only 1% more viewership share if Warner Bros. deal closes.
YouTube remains the leader in U.S. viewership, holding 13% share.
Regulators are urged to approve the deal based on fundamental data.

Netflix Eyes Warner Bros. Deal, Still Trails YouTube Viewership

Netflix's pursuit of Warner Bros. was discussed by Co-CEO Greg Peters at a recent UBS conference. He projected that acquiring Warner Bros. would elevate Netflix's U.S. market share from 8% to 9%, significantly less than YouTube's dominant 13%. This comparison aims to address potential regulatory concerns by framing the deal's impact.

Currently, Netflix commands 8% of total U.S. viewing hours, while Warner Bros. Discovery's combined assets account for 5.6%. Peters clarified that Netflix is not interested in acquiring Warner Bros. Discovery's linear television channels. The discussion also noted that if Paramount acquired Warner Bros. Discovery, it would surpass YouTube in viewership.

Peters presented a case for regulatory approval, asserting that the fundamental viewership data supports the transaction. The ongoing dialogue around this potential acquisition underscores the competitive landscape of streaming and the metrics regulators consider.