Netflix advertising chief Amy Reinhard claimed the streaming service has 190 million monthly active viewers (MAV) worldwide—a new advertising metric the company shared after it stopped reporting subscription numbers earlier this year. Netflix wants to help advertisers more clearly understand an ad’s potential reach and ROI. Low churn, high-value content, and maturing ad offerings means Netflix will be an attractive option for brands for years to come—but the picture is about to get more complicated.

Netflix has secured exclusive streaming rights in Japan for the 2026 World Baseball Classic, its first live sports play in the country. The deal covers all 47 games live and on-demand, expanding on Netflix’s MLB collaborations. Japan’s WBC viewership dwarfs US levels—the 2023 finale drew Super Bowl–level shares and over 30 million viewers for most Japan games. Netflix, already strong in regional SVOD revenue, faces tough youth competition from U-NEXT, d-anime, and Abema Premium. By betting on baseball, Netflix is testing whether national sports passion can drive subscriber growth, retention, and cultural relevance in one of its toughest markets.

The news: Disney announced that it will merge Disney+ and Hulu in 2026, a move that could save it $3 billion. The news came after a mixed Q3 FY25 that beat expectations thanks to high spending at Disney theme parks and growth in streaming, but saw advertising revenues fall short of analyst estimates. Our take: Disney’s future success depends on whether merging its core streaming offerings boosts advertiser appeal and a successful sports push that can compete on a similar level as rivals with access to tentpole live events like the Super Bowl.

The trend: Gen Z is opting out of both traditional pay TV and ad-supported streaming tiers, signaling deeper changes in viewing behavior. Just 42% of Gen Z subscribers use ad-supported SVOD, while less than half of all US households now maintain a pay TV subscription. Our take: Streaming’s future depends on reaching the next generation, but current models—especially ad-supported tiers—aren’t meeting Gen Z where they are. With only 1.3 hours of streaming and 0.8 hours of traditional TV per day, Gen Z prefers social video, gaming, and music. To stay relevant, platforms must prioritize native formats, interactivity, and creator integration over legacy ad models.

The news: Rewards app Fetch and measurement platform Kochava teamed up to offer loyalty rewards to streaming users, per Marketing Brew. Loyalty+ users can earn points from streaming movies or series, watching specific episodes, or downloading streaming apps. Video on demand (SVOD) services can offer incentives based on their chosen KPIs. Our take: Little treats from big streamers can add up and boost loyalty, provided the incentives are worthwhile and requirements aren’t burdensome. Watching TV for several hours for a fraction of a Starbucks drink, for example, won’t likely improve platform stickiness.

Ad-supported streaming now drives most new subscriptions: Platforms are embracing ads as a primary monetization strategy, not a fallback.

FAST shows no signs of slowing down: From the Roku Channel to Tubi, FAST continues a path of acceleration that will be bolstered by economic uncertainty.

Studio and linear remain a dark cloud for WBD and Paramount: Revenues were down YoY for both companies, but streaming remains a beacon of hope.

Why CPMs are falling at Upfronts: Increased inventory and viewership is causing streamers to soften prices during the buying season.

Younger consumers increasingly prefer creator content over TV, film: A Deloitte study indicates that advertisers need to rethink their strategies to remain competitive.

FAST streaming is growing fast: The number of active channels has nearly doubled in several key markets, with the US showing the most growth, but user experience remains key.

Digital eclipsed traditional pay TV among live sports viewers in 2023. As that lead grows, the growth of women’s sports and betting apps provides marketers with opportunities to reach new audiences.

Comcast to distribute Max in the UK in exchange for US bundle rights: The deal shows competitors willing to team up in a saturated market.

GenAI and social are set to heavily influence the UK commerce and advertising landscape in 2025, while thrifty consumer behaviors persist and video viewing shifts to mostly digital.

A hot mic moment revealed Disney’s advertising audience: The company’s Q4 earnings came with AVOD revelations and significant gains in India.

Paramount’s Q3 results reflect strong streaming growth: To attain 3.5 million new subscribers and $49 million in DTC profit, it’s leveraged cost cutting and content innovation to balance revenue pressures from traditional TV.

Gen Z leads in digital usage by most proportional measures. However, social network use cuts across categories, influencing video viewing and digital buying.

Apple feels the pain of Apple TV+ struggles: Its Q4 revenues missed the mark in some divisions including Services, which includes advertising.

Streamers, pay TV sue to block click-to-cancel: The FTC’s attempt to standardize digital cancellations may have an uphill battle.

This is the first installment of our quarterly “Ad Spending Benchmarks” series, which helps ad buyers and sellers calibrate their spending and revenue mix against the market.