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Paramount-WBD Merger 2026: The Showtime Precedent, 85.8M Combined Subscribers and the $111B Debt Question

Our Video Markets Tracker forecasts the combined Paramount–WBD streaming footprint at 85.8M US SVOD subscriptions in 2026, rising to 91.2M by 2031 — with $11.75B in combined streaming revenue growing to $13.5B. This data-driven analysis covers the $111B merger's subscriber growth, AVOD and ad-tier expansion, HBO brand integration risk after the Showtime precedent, and the Canada Crave licensing threat. DOJ approved June 2026; Q3 close confirmed.

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