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Netflix Eyes Warner Bros. Deal, Still Trails YouTube Viewership
8 Dec, 2025
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'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.
