Security
Warner Bros. Discovery (WBD) Research Hub
Research from Goldman Sachs highlights a bifurcated environment for major media entities such as Warner Bros. Discovery (WBD), where streaming now accounts for nearly half of total US television usage. While the sector faces structural headwinds, linear TV saw a temporary respite in early 2026 due to high-profile events like the Oscars and NCAA March Madness. Despite these seasonal lifts, the broader metrics remain pressured, with broadcast primetime ratings falling 10% and cable primetime ratings dropping 4% year-over-year. Company-level results vary significantly across the industry; Disney and Versant Media reported substantial viewership gains, contrasting with double-digit declines at Paramount and AMC Networks. This volatility in viewership data is a key driver for the latest revisions to price targets and valuation methodologies for media stocks. For WBD, these findings emphasize the critical role of live event programming in mitigating the ongoing decline of traditional broadcast and cable ratings.
4 reports available
TV Viewership Tracker
This report tracks Nielsen TV ratings and the 'Gauge' for US media, highlighting streaming's 47.6% market share and company-specific viewership trends for firms like DIS, FOXA, and WBD.
Situation Room: May The Deals Be With You
North American M&A activity surged to $315bn in May, leaving a $448bn pipeline of pending deals with significant funding implications for the US Investment Grade bond market.
TV Viewership Tracker: L3 Through Week Ending May 10th
The report tracks US TV viewership through May 10, 2026, showing a 10% yoy decline in broadcast primetime and mixed results in cable, with notable growth at Disney and Versant Media.
Weekly View From the Desk
The report analyzes key questions for H2 2026, focusing on potential geopolitical resolutions in Iran, US Fed rate cuts, and central bank divergence in Europe and Japan.
All reports
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