Public MarketsEarnings and share moves
CTV & Streaming
Q2 2026: revenue $1.35B (+22% YoY), beat; EPS $1.18 vs $0.61 est. — 5th straight profitable quarter.
Guidance withheld pending its $22B Fox Corp acquisition.
Q2 2026: revenue $715M (+3% YoY), missed $751.5M est.; adj. EPS $0.34 vs $0.37 est.
CFO, CMO, and commercial chief all replaced this quarter.
Q2 2026: revenue $12.56B (+13.4%), in-line; EPS $0.80 in-line; op. margin 33.4% (down from 34.1%).
Ads business tracking ~$3B FY26 revenue, ~$43/mo ARPU; stock fell on a soft Q3 revenue guide.
Q3 FY26: revenue $25.25B (+7%), slight miss; adj. EPS $2.06 vs $1.86 est. — beat.
Streaming operating income more than doubled YoY to ~$712M; stock +~4% premarket.
Q2 2026: revenue $8.72B, missed $9.21B est.; EPS beat despite the revenue miss.
Subject to Paramount Skydance's pending $80.9–111B bid; US antitrust trial set March 2027.
Q2 2026: revenue $6.91B vs $6.88B est. — slight beat; net earnings $41M.
Pursuing the Warner Bros. Discovery acquisition.
Figures not confirmed in this research pass.
Sports-first vMVPD; folded the Fox-backed Hulu + Live TV merger in early 2025.
Figures not confirmed in this research pass.
Cable-network group leaning on AMC+ bundling as linear affiliate revenue erodes.
Ad-Tech Platforms
Q2 2026: revenue $119.8B (+24%), beat; ad revenue $81.63B; YouTube ads $11.1B (+13%).
Stock fell >6% on a raised 2026 capex guide ($195–205B, up from $180–190B).
Q2 2026: net sales $200.6B (+20%); AWS $42.2B (+37%); ad revenue $19.8B (+26%, nearing $20B/qtr).
2026 capex guide raised to $220B.
Q2 2026: non-GAAP EPS $0.26 vs $0.25 est.; revenue $192.8M vs $179.2M est. — beat.
CTV now 51% of Contribution ex-TAC, up 36% YoY; FY26 targets raised.
Q2 2026: adj. EPS $0.12 vs an est. $0.23 loss — big beat; revenue $78.6M (+11%).
Adj. EBITDA margin 25%, up from 20%.
Q2 2026: adj. EPS $0.80 vs $0.70 est. — beat; revenue $428M.
Stock fell 28% premarket on a guidance cut and enterprise-client pullback; Retail Media spend +31% YoY.
Figures not confirmed in this research pass.
Verification/measurement vendor with growing CTV-specific attention and outcomes products.
Figures not confirmed in this research pass.
IAS's direct rival in ad verification; both racing to build CTV-native measurement.
Figures not confirmed in this research pass.
Mobile-app-install ad platform expanding its AXON engine toward CTV/web inventory.
Legacy Media & Agencies
Q2 2026: revenue $29.94B (-1.2%); adj. EPS $1.04 (-16.7%).
Announced an NBCUniversal+Sky spin-off within 12 months; Peacock's first-ever profitable quarter.
Q2 FY26: revenue $5.18B; net income $247M, down from $388M YoY.
Ad revenue +1%, Tubi AVOD growth offsetting lower political ad revenue.
H1 2026: like-for-like net sales -4.7% (Q2 -2.8%, improving); operating margin 8.4%.
Net new billings -$1.1B in H1 vs. Publicis +$1.6B.
Post-IPG-merger core revenue ~$6B (£4.5B) — comparisons complicated by the Dec 2025 merger.
H1 2026: organic growth 4.8% in Q2; net revenue €3.77B.
Raised full-year organic growth guidance.
Figures not confirmed in this research pass.
Local-broadcast group with a growing CTV/streaming ad-tech arm (Compulse).
Figures not confirmed in this research pass.
Largest US local-TV station owner; pursuing the pending Tegna acquisition.
Figures not confirmed in this research pass.
Sir Martin Sorrell's 'new-model' digital agency group, built to compete with the WPP/Omnicom/Publicis holdcos.
CTV CPM BenchmarksWhat inventory is actually clearing at
An inventory glut pushed CTV CPMs down 10–30% through 2025 — current levels read as a post-correction floor.
Source: AdWave, Paramount Ads Manager, NAMediaExperts — Q2–Q3 2026
Ad Spend by Country / Region2026 forecast cycle
Crosses $1 trillion for the first time in 2026, across 56 tracked markets.
CTV upfront ($17.73B) to exceed primetime linear upfront ($16.98B) for the first time in 2026. Total US ad spend growth (all formats) tracking +5.0%.
The US is the dominant driver of this figure.
The fastest-growing region overall.
Trails the Americas and APAC — the slowest-growing major region tracked.
Driven by short-form video and lifestyle-platform ad formats.
Driven by major sporting events and digital expansion.
Smaller base than the US or China but among the fastest-growing CTV markets tracked.
The fastest-growing major market tracked.
A usage figure, not confirmed ad-spend — Germany's CTV ad-spend total wasn't confirmed this pass.
Not confirmed in the last research pass — eMarketer tracks Western Europe programmatic spend, but a UK-specific figure wasn't pulled. Flagged for follow-up.
Not confirmed in the last research pass — flagged for follow-up.
Not confirmed in the last research pass — flagged for follow-up.
Not confirmed in the last research pass; included under the broader Brazil/LATAM growth figure above.
Watch Time & Platform ShareWhere the hours actually go
United States
US/Canada, up 0.7 hrs YoY (TiVo). of total TV watch-time — Nielsen Gauge, May 2026; a Dec 2025 daily record hit 54% (Christmas Day). Hulu, Roku Channel, and Tubi don't break out individually in the Nielsen Gauge sources found.
Source: Nielsen Gauge (May 2026), TiVo, Comscore
Australia
Daily minutes not confirmed this pass. of TV-set viewing, Q2 2026 (Netflix, Disney+, Prime Video, and YouTube combined); broadcast + BVOD ('Total TV') held the other 60.4%. OzTAM's Streamscape dashboard doesn't break the Digital Video bucket into per-service shares.
Source: OzTAM Streamscape, Q2 2026
Canada
Daily minutes not confirmed this pass. Overall streaming share of total TV not confirmed this pass. Numeris tracks the SVOD sub-market only in the sources found — a full platform-share picture against linear TV wasn't confirmed.
Source: Numeris, 2026
United Kingdom
Daily minutes not confirmed this pass. Numeric platform shares not confirmed this pass. BARB data (late Dec 2025–early Jan 2026) shows BBC iPlayer leading BVOD viewing and Sky Go leading live streaming, but percentage shares weren't confirmed in this pass.
Source: BARB, Dec 2025–Jan 2026
Latest Bets from the Forecast DeskThe roster’s live positions on Ad Tech & CTV markets
Netflix's Ad Tier: Milestone or Still Building?
📊 Disclosure-as-usual YES: a 2026 ad-revenue figure and/or the completed Microsoft cutover satisfies at least one leg under a lenient-to-standard read
Netflix's Ad Tier: Milestone or Still Building?
📊 Disclosure-as-usual YES: a 2026 ad-revenue figure and/or the completed Microsoft cutover satisfies at least one leg under a lenient-to-standard read
Netflix's Ad Tier: Milestone or Still Building?
🚧 Strict-reading NO: restatements and the pre-window cutover don't count, and no new threshold is crossed in-window
Netflix's Ad Tier: Milestone or Still Building?
📊 Disclosure-as-usual YES: a 2026 ad-revenue figure and/or the completed Microsoft cutover satisfies at least one leg under a lenient-to-standard read
Netflix's Ad Tier: Milestone or Still Building?
📊 Disclosure-as-usual YES: a 2026 ad-revenue figure and/or the completed Microsoft cutover satisfies at least one leg under a lenient-to-standard read
Netflix's Ad Tier: Milestone or Still Building?
🚧 Strict-reading NO: restatements and the pre-window cutover don't count, and no new threshold is crossed in-window
Netflix's Ad Tier: Milestone or Still Building?
📊 Disclosure-as-usual YES: a 2026 ad-revenue figure and/or the completed Microsoft cutover satisfies at least one leg under a lenient-to-standard read
Google Ad-Tech Remedy: Breakup or Behavioral?
🚧 Behavioral / hard-conduct-only order, no forced sale (resolves NO)
Google Ad-Tech Remedy: Breakup or Behavioral?
⚖️ Partial structural — forced AdX divestiture, DFP handled by conduct terms (resolves YES)
Google Ad-Tech Remedy: Breakup or Behavioral?
🚧 Behavioral / hard-conduct-only order, no forced sale (resolves NO)
Google Ad-Tech Remedy: Breakup or Behavioral?
⚖️ Partial structural — forced AdX divestiture, DFP handled by conduct terms (resolves YES)
Google Ad-Tech Remedy: Breakup or Behavioral?
⚖️ Partial structural — forced AdX divestiture, DFP handled by conduct terms (resolves YES)