Streaming Giants Prepare for Disruptive Changes as Earnings Season Begins

The final round of quarterly earnings for 2025 is about to kick off, and the media landscape is bracing for major shifts. Over the coming weeks, industry giants like Netflix, Comcast, Warner Bros. Discovery, Paramount, and Disney will report their latest financial results, providing a glimpse into the state of the streaming wars and the broader transformation of the industry.

One of the key focal points will be Netflix's guidance on engagement metrics, as the company has shifted its focus to this new measure of success amid the rollout of its ad-supported tier. Analysts expect the ad-supported offering to become a primary revenue driver for Netflix in 2026, driven by strong subscriber retention and improving ad targeting capabilities.

Elsewhere, Paramount's earnings will be closely watched as the company undergoes a major restructuring under the leadership of David Ellison. Paramount is pursuing a potential acquisition of Warner Bros. Discovery, and analysts will be keen to hear more about the company's vision and its plans to achieve $2 billion in cost savings, including thousands of upcoming layoffs.

Disney, meanwhile, will have to address the fallout from the recent suspension of "Jimmy Kimmel Live!" on its ABC network, which triggered calls for boycotts of its streaming services. While the company has resolved the controversy, the immediate impact on subscriber churn and the upcoming streaming price increases could pose challenges for Disney's growth plans.

As the industry navigates these turbulent times, the upcoming earnings season promises to provide fresh insights into the future of linear and streaming television, as well as the broader strategic shifts shaping the media landscape.