With so much to talk about in 2025 from AI to sports streaming, we zeroed in on a key area of change: US Studio behaviour.
Studios faced a balancing act. Amid the buzz around the Creator Economy, consolidation, the TV OS wars, and growing demand for digital rights, they focused on one thing: optimising revenue. That meant getting creative with how they licensed content, partnered with other streamers, and responded to broadcasters’ growing demand for content on their digital services (BVOD).
Backing D2C, But With More Caution
Throughout 2025, most studios continued to support their D2C services, but with more variation than we’ve seen before. Some leaned in. Others pulled back. Across 15 major markets, the percentage of studio-distributed shows airing on owned platforms dipped marginally from 58% to 56%.
Third-Party Deals Took Centre Stage
Local SVOD platforms and Pay TV operators dominated first-window deals. Free TV and global streamers, especially Netflix, featured more prominently in the second window. The big players took different paths: Paramount favoured global SVOD, while Netflix and Disney leaned towards Free TV licensing.
New Ways to Partner
Disney stood out for its experimental approach with new partnerships withlocal players, such as their “A Taste of Disney+” initiative with ITVX in the UK. Here the content relationship is not one of selling but sharing, with Disney+ and ITVX exchanging content and thus giving viewers a sample of each service. This kind of deal reflects a broader trend: as broadcasters accelerate their digital ambitions, we’re likely to see more experimentation with licensing and collaboration. But it is likely to continue to show great variety across different markets.
Local Markets, Local Nuances
The shift to digital, especially for English-language content on broadcaster platforms, varies widely by market. In some countries, Free TV operators remain focused on homegrown shows. Others, like Italy, have long licensed US content but haven’t yet pushed into digital in a big way.
And with broadcasters and streamers both chasing digital growth, 2026 looks set to bring even more change.
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