streaming

“streaming-stops-feeling-infinite”:-what-subscribers-can-expect-in-2026

“Streaming stops feeling infinite”: What subscribers can expect in 2026


Spoiler: expect higher prices

Streaming may get a little worse before it gets better.

We’re far from streaming’s original promise: instant access to beloved and undiscovered titles without the burden of ads, bundled services, or price gouging that have long been associated with cable.

Still, every year we get more dependent on streaming for entertainment. Despite streaming services’ flaws, many of us are bound to keep subscribing to at least one service next year. Here’s what we can expect in 2026 and beyond.

Subscription prices keep rising, but perhaps not as expected

There’s virtually no hope of streaming subscription prices plateauing in 2026. Streaming companies continue to face challenges as content production and licensing costs rise, and it’s often easier to get current customers to pay slightly more than to acquire new subscribers. Meanwhile, many streaming companies are still struggling with profitability and revenue after spending years focusing on winning subscribers with content.

“We see many services are only now aligning content spend with realistic lifetime value per subscriber,” Christofer Hamilton, industry insights manager at streaming analyst Parrot Analytics, told Ars.

Companies may get more creative with how they frame higher costs to subscribers, however. People who pay extra to stream without ads are the most likely to see price bumps as streaming companies continue pushing customers toward ad-based tiers.

Charging more for “premium” features—such as 4K streaming, simultaneous streams, or offline downloads—offers another way for streaming companies to boost revenue without implementing broad price hikes that risk provoking customer outrage. Subscribers can expect streaming prices to get “more menu-like next year,” said Michael Goodman, director of entertainment research at Parks Associates, a research firm focusing on IoT, consumer electronics, and entertainment.

When will the price hikes stop?

If streaming prices won’t stop rising next year, when will they?

Ultimately, it may be up to subscribers to vote with their dollars by canceling subscriptions or opting for cheaper or free alternatives, such as FAST (free ad-supported streaming television) channels with linear programming.

As Goodman put it, “Until we see net adds stall or decline as a result of price hikes, services have no incentive to stop raising prices.”

Some experts doubt that streaming services will ever willingly stop increasing prices. Bill Yousman, professor and director of the Media Literacy and Digital Culture graduate program at Sacred Heart University, sees precedent for this in cable companies.

“If the big streaming companies had their way, there would be no limit to their price hikes. We have already seen this with the cable monopolies and their disregard for consumer dissatisfaction,” he said.

Yousman believes that prices will only “be brought under control if there is some type of government regulation,” but he noted that’s unlikely under the Trump administration.

To date, US lawmakers haven’t shown interest in halting the steady rise of streaming prices. Most lawmakers who have sought to regulate the industry have focused on industry consolidation. There has been some effort from lawmakers to rein in streaming price hikes, though, especially through proposed federal legislation dubbed the Price Gouging Prevention Act.

Streaming services lean deeper into cable-like bundles

Companies will look to leverage subscribers’ frustration with pricing by being more aggressive about bundling third-party services like traditional pay TV, Internet, and cell phone service with streaming subscriptions. The idea is that people are less likely to cancel a streaming subscription if it’s tied to a different subscription (including another streaming subscription). The strategy echoes the days of cable, when some people kept unused landlines just to save money on cable channels or Internet service.

“For subscribers, 2026 is the year streaming stops feeling infinite and starts feeling more like premium cable used to: fewer apps, clearer bundles, and higher expectations for each service they pay for,” Parrot’s Hamilton said.

Thanks to traditional pay TV providers, bundles have a bad connotation among people looking to save money and simplify their subscriptions. But bundling doesn’t always have to be a bad thing, as Yousman explains:

If the companies wanted to really be responsive to consumers, they would let them design their own packages rather than having to choose options that may or may not include all the services they want. What works against this, of course, is the demand for ever-increasing profits at all times.

Should a sale of Warner Bros. Discovery’s (WBD’s) HBO Max be completed (late) next year, subscribers will face more pressure to bundle their streaming subscriptions.

“When dominant platforms like Netflix or Paramount absorb major content players, it accelerates the erosion of streaming’s original promise: freedom from monopolistic bundles,” Vikrant Mathur, co-founder of streaming technology provider Future Today, said.

Netflix and Paramount duke it out over Warner Bros.

WBD announced plans this month to sell its streaming and movie studios business to Netflix for an equity value of $72 billion, or an approximate total enterprise value of $82.7 billion. Paramount Skydance, however, quickly swooped in with a hostile takeover bid for all of WBD, including its cable channels, for $108.4 billion. A WBD shareholder vote will occur in spring or early summer, chairman Samuel Di Piazza told CNBC. By the end of 2026, we should have a clearer understanding of the future of HBO Max, as well as Netflix and Paramount+.

Any acquisition will be subject to regulatory scrutiny, causing more uncertainty for subscribers. If Netflix buys HBO Max, users of both services can expect higher prices due to reduced competition and the extensive amount of content and number of big-budget franchises (including Harry Potter and DC Comics) expected to unite under one platform.

“If Netflix gets [HBO Max] and the WB studios, HBO Max subscribers are more likely to see a smoother transition, strong ongoing investment in premium content, and simpler app/billing integration,” Parks Associates’ Goodman said.

But while the potential merger is worth watching, subscribers are unlikely to truly feel the impact of HBO Max potentially changing ownership until after 2026.

“Producing a show is a yearslong process, so the content that was already slated to air isn’t going to disappear, and the new content acquired through the WB library won’t be available until the merger is approved and closes,” Tre Lovell, attorney and owner of Los Angeles entertainment law firm The Lovell Firm, explained.

Content starts getting less bold

Looking beyond 2026, a sale of part or all of WBD would likely open the door for more streaming acquisitions. That could eventually benefit customers by making it easier to find content to watch with fewer subscriptions. But merged companies are also less likely to take risks on unique and diverse content.

Analysts I spoke with pointed to fewer niche and mid-tier original shows and movies and more show cancellations if either Netflix or Paramount buys HBO Max. Either buyer would probably focus more on the already-successful franchises that WB owns, such as Game of Thrones, Batman, and Superman.

“Big combined libraries push companies to double down on proven IP because it travels, merchandises, and reduces marketing risk,” said Robert Rosenberg, a partner at the New York law firm Moses Singer focusing on intellectual property, entertainment, technology, and data law.

Rosenberg also expects to see a “tilt toward” live events, sports, and unscripted content “for retention” if HBO Max sells.

In the shorter term, Rory Gooderick, research manager at analyst firm Ampere Analysis, predicted that WBD will be “cautious when greenlighting new large-scale projects until” the acquisition is finalized.

Beyond the potential HBO Max sale, more merger activity could lead to streaming services straying from their original selling point of offering bolder, quirkier content.

As the industry consolidates, “sticky content,” like procedurals, reality shows, and “comfort TV that drives long viewing sessions,” will take priority among mainstream, subscription-based streaming services, especially as they put more emphasis on ad-tier subscriptions, Goodman predicted.

A more stable future?

The new year will be formative for streaming and yield lasting impacts for subscribers. We’ve discussed numerous negative implications, but there could be a silver lining. While we may see more turbulence, hopefully, we’ll also start to see a road toward more stable streaming options.

Streaming subscribers can’t directly stop mergers or price hikes or control streaming libraries. But with services like Netflix and Disney+ focusing on becoming one-stop shops with massive libraries, there’s an opportunity for other services to hone their specialties and stand out by providing offbeat, unexpected, and rare content at more affordable prices.

As the landscape settles, streamers should be mindful of the importance of variety to subscribers. According to Bill Michels, chief product officer at Gracenote, Nielsen’s content data business unit:

There will be some consolidation. But the [connected TV] landscape, inclusive of FAST and [direct-to-consumer] channels, provides more than ample video variety for viewers, so the biggest challenge will be connecting content with the right audience. Audience engagement depends on good content. Audience retention depends on making sure audiences are never without something to watch.

Photo of Scharon Harding

Scharon is a Senior Technology Reporter at Ars Technica writing news, reviews, and analysis on consumer gadgets and services. She’s been reporting on technology for over 10 years, with bylines at Tom’s Hardware, Channelnomics, and CRN UK.

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peacock-showing-ads-upon-launch-opens-the-door-for-more-disruptive-streaming-ads

Peacock showing ads upon launch opens the door for more disruptive streaming ads

Peacock subscribers will see ads immediately upon opening the streaming app or website next year. It’s a bold new strategy for attracting advertisers—something that’s been increasingly important to subscription-based streaming services—but it also risks alienating viewers

As reported by Variety, the new type of ads will display on the profile selection page that shows when a subscriber launches Peacock. Starting next year, instead of the profile page just showing your different Peacock profiles, most of the page will be dominated by an advertorial image. The circles of NBCUniversal-owned characters selected for user profiles will be relegated to a vertical column on the screen’s left side, as you can see here.

To avoid seeing what NBCUniversal is calling “Arrival Ads” every time you open Peacock, you need to subscribe to Peacock’s most expensive plan, which is ad-free and starts at $17 per month (Peacock’s ad-based plans start at $8/month.)

NBCUniversal’s announcement claims that Peacock will be the first streaming service to implement this type of ad. But that may not be the brag the entertainment giant thinks it is, as subscribers may quickly find the startup ads disruptive.

Peacock isn’t making money

Over the past couple of years, it’s become increasingly important for streaming services to generate revenue beyond subscription fees. Peacock and many other streaming services have struggled with profitability after spending years focusing on pricey content production and licensing to attract subscribers.

For its part, Peacock has 41 million subscribers and isn’t profitable. In its most recent quarterly earnings report, shared in October, NBCUniversal parent company Comcast reported that the service lost $217 million in earnings before interest, taxes, depreciation, and amortization, compared to losing $436 million in the same quarter in 2024. At the same time, Peacock has struggled to grow viewership and has had the same number of subscribers since Q1 2025. In Q1 2024, Peacock had 31 million subscribers.

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how-to-break-free-from-smart-tv-ads-and-tracking

How to break free from smart TV ads and tracking


The Ars guide to “dumb” TVs

Sick of smart TVs? Here are your best options.

Credit: Aurich Lawson | Getty Images

Credit: Aurich Lawson | Getty Images

Smart TVs can feel like a dumb choice if you’re looking for privacy, reliability, and simplicity.

Today’s TVs and streaming sticks are usually loaded up with advertisements and user tracking, making offline TVs seem very attractive. But ever since smart TV operating systems began making money, “dumb” TVs have been hard to find.

In response, we created this non-smart TV guide that includes much more than dumb TVs. Since non-smart TVs are so rare, this guide also breaks down additional ways to watch TV and movies online and locally without dealing with smart TVs’ evolution toward software-centric features and snooping. We’ll discuss a range of options suitable for various budgets, different experience levels, and different rooms in your home.

Table of Contents

Our best recommendation

This is a dumb TV guide, but first, let’s briefly highlight the best recommendation for most people: Take your TV offline and plug in an Apple TV box.

The Apple TV 4K and Siri Remote.

Your best option.

Credit: Jeff Dunn

Your best option. Credit: Jeff Dunn

An Apple TV lets you replace smart TV software with Apple’s cleaner tvOS, and it’s more intuitive than using most smart TVs and other streaming devices. Apple’s tvOS usually runs faster and more reliably, and it isn’t riddled with distracting ads or recommendations. And there’s virtually no learning curve for family members or visitors, something that can’t always be said for DIY alternatives.

Critically, Apple TV boxes are also an easy recommendation on the privacy front. The setup process makes it simple for anyone to ensure that the device is using relatively minimal user tracking. You’re likely to use an Apple TV box with the Apple TV app or with an Apple account, which means sending some data to Apple. But Apple has a better reputation for keeping user information in-house, and Apple TV boxes don’t have automatic content recognition (ACR).

For more information, read my previous article on why Apple TVs are privacy advocates’ go-to streaming device.

Differing from other smart TV alternatives in this guide (such as a laptop), you don’t have to worry about various streaming services’ requirements for streaming in 4K or HDR with an Apple TV. But you still have to make sure your display and HDMI cable are HDCP 2.2-compliant and that you’re using HDMI 2.0 or better if you want to watch 4K or HDR content. You could even connect network-attached storage (NAS) to your Apple TV box so you can stream files from the storage device.

Plus, using a smart TV offline means you’ll have access to the latest and greatest display technologies, which is generally not the case for dumb TVs.

Things to keep in mind

One common concern about using smart TVs offline is the fear that the TV will repeatedly nag you to connect to the Internet. I’ve seen some reports of this happening over the years, but generally speaking, this doesn’t seem to be expected behavior. If you can’t find a way to disable TV notifications, try contacting support.

You may want your offline TV to keep LAN access so you can still use some smart TV features, like phone mirroring or streaming from a NAS. In this case, you can use your router (if supported) to block your TV’s IP address from connecting to the Internet.

And Google TV users should remember to set their TV to “basic TV” mode, which lets you use the TV without connecting to the Internet.

Dumb TVs are endangered

Buying a TV that doesn’t connect to the Internet is an obvious solution to avoiding smart TV tracking and ads, but that’s much easier said than done.

Smart TV OSes help TV-makers stay afloat in an industry with thin margins on hardware. Not only do they provide ad space, but they also give OS operators and their partners information on how people use their TVs—data that is extremely valuable to advertisers. Additionally, mainstream acceptance of the Internet of Things has led many people to expect their TVs to have integrated Wi-Fi. These factors have all made finding a dumb TV difficult, especially in the US.

Dumb TVs sold today have serious image and sound quality tradeoffs, simply because companies don’t make dumb versions of their high-end models. On the image side, you can expect lower resolutions, sizes, and brightness levels and poorer viewing angles. You also won’t find premium panel technologies like OLED. If you want premium image quality or sound, you’re better off using a smart TV offline. Dumb TVs also usually have shorter (one-year) warranties.

Any display or system you end up using needs HDCP 2.2 compliance to play 4K or HDR content via a streaming service or any other DRM-protected 4K or HDR media, like a Blu-ray disc.

Best ways to find a dumb TV

Below are the brands I’ve identified as most likely to have dumb TVs available for purchase online as of this writing.

Emerson

I was able to find the greatest number of non-smart TVs from Emerson. Emerson is a Parsippany, New Jersey, electronics company that was founded in 1948.

As of this writing, Emerson’s dumb TV options range from 7-inch portable models to 50-inch 4K TVs. Its TVs are relatively easy to get since they’re sold directly and through various online retailers, including Amazon, Home Depot, Best Buy, and, for some reason, Shein.

Westinghouse



Another company still pushing non-smart TVs is Westinghouse, a Pittsburgh-headquartered company founded in 1886. In addition to other types of electronics and home goods, Westinghouse also has an industrial business that includes nuclear fuel.

Westinghouse’s dumb TVs max out at 32 inches and 720p resolution, but some of them also have a built-in DVD player. You can find Westinghouse’s dumb TVs on Amazon. However, Westinghouse seems to have the most dubious reputation of these brands based on online chatter.

Sceptre

Sceptre, a Walmart brand, still has a handful of dumb TVs available. I’ve noticed inventory dwindle in recent months, but Walmart usually has at least one Sceptre dumb TV available.

Amazon search

Outside the above brands, your best bet for finding a non-smart TV is Amazon. I’ve had success searching for “dumb TVs” and have found additional results by searching for a “non-smart TV.”

Projectors

For now, it’s not hard to find a projector that doesn’t connect to the Internet or track user activity. And there are options that are HDCP 2.2-compliant so you can project in 4K and HDR.

Things to keep in mind

Projectors aren’t for everyone. They still require dim rooms and a decent amount of physical space to produce the best image. (To see how much space you need for a projector, I recommend RTINGS’ handy throw calculator.)

The smart-tech bug has come for projectors, too, though, and we’ve started seeing more smart projectors released over the past two years.

Computer monitors

If you want a dumb display for watching TV, it’s cheaper to buy a smart TV and keep it offline than it is to get a similarly specced computer monitor. But there are benefits to using a monitor instead of a dumb TV or an offline smart TV. (Of course, this logic doesn’t carry over to “smart monitors.”)

When it comes to smaller screens, you’ll have more options if you look at monitors instead of TVs. This is especially true if you want premium features, like high refresh rates or quality speakers, which are hard to find among TVs that are under 42 inches.

Monitor vendors are typically more forthcoming about product specs than TV makers are. It’s hard to find manufacturer claims about a TV’s color gamut, color accuracy, or typical brightness, but a computer monitor’s product page usually has all this information. It’s also easier to find a monitor with professional-grade color accuracy than a TV with the same, and some monitors have integrated calibration tools.

Things to keep in mind

Newer and advanced types of display technologies are rarer in monitors. This includes OLED, Mini LED, and Micro RGB. And if you buy a new monitor, you’ll probably need to supply your own speakers.

A computer monitor isn’t a TV, so there’s no TV tuner or way to use an antenna. If you really wanted to, you could get a cable box to work with a monitor with the right ports or adapters. People are streaming more than they’re watching broadcast and cable channels, though, so you may not mind the lack of traditional TV capabilities.

Digital signage

Digital signage displays are purpose-built for displaying corporate messages, often for all or most hours of the day. They typically have features that people don’t need for TV watching, such as content management software. And due to their durability and warranty needs, digital signage displays are often more expensive than similarly specced computer monitors.

Again, it’s important to ensure that the digital signage is HDCP 2.2-compliant if you plan to watch 4K or HDR.

Things to keep in mind

But if you happen to come across a digital signage display that’s the right size and the right price, is there any real reason why you shouldn’t use it as a TV? I asked Panasonic, which makes digital signage. A spokesperson from Panasonic Connect North America told me that digital signage displays are made to be on for 16 to 24 hours per day and with high brightness levels to accommodate “retail and public environments.”

The spokesperson added:

Their rugged construction and heat management systems make them ideal for demanding commercial use, but these same features can result in higher energy consumption, louder operation, and limited compatibility with home entertainment systems.

Panasonic’s representative also pointed out that real TVs offer consumer-friendly features for watching TV, like “home-optimized picture tuning, simplified audio integration, and user-friendly menu interfaces.”

If you’re fine with these caveats, though, and digital signage is your easiest option, there isn’t anything stopping you from using one to avoid smart TVs.

What to connect to your dumb TV

After you’ve settled on an offline display, you’ll need something to give it life. Below is a breakdown of the best things to plug into your dumb TV (or dumb display) so you can watch TV without your TV watching you.

Things to keep in mind

If you’re considering using an older device for TV, like a used laptop, make sure it’s HDCP 2.2-compliant if you want to watch 4K or HDR.

And although old systems and displays and single-board computers can make great dumb TV alternatives, remember that these devices need HDMI 2.0 or DisplayPort 1.2 or newer to support 4K at 60 Hz.

What to connect: a Phone

Before we get into more complex options for powering your dumb TV, let’s start with devices you may already own.

It’s possible to connect your phone to a dumb display, but doing so is harder than connecting a PC. You’d need an adapter, such as a USB-C (or Lightning) Digital AV Adapter.

You can use a Bluetooth mouse and keyboard to control the phone from afar. By activating Assistive Touch, I’ve even been able to use my iPhone with a mouse that claims not to support iOS. With an extra-long cable, you could potentially control the phone from your lap. That’s not the cleanest setup, though, and it would look odd in a family room.

Things to keep in mind

If your phone is outputting to your display, you can’t use it to check your email, read articles, or doomscroll while you watch TV. You can fix this by using a secondary phone as your streaming device.

If you’re using a phone to watch a streaming service, there’s a good chance you won’t be watching in 4K, even if your streaming subscription supports it. Netflix, for example, limits resolution to 1080p or less (depending on the model) for iPhones. HDR is supported across iPhone models but not with Android devices.

Screen mirroring doesn’t always work well with streaming services and phones. Netflix, for instance, doesn’t support AirPlay or Android phone casting. Disney+ supports Chromecast and AirPlay, but AirPlay won’t work if you subscribe to Disney+ with ads (due to “technical reasons”).

What to connect: A laptop

A laptop is an excellent smart TV alternative that’s highly customizable yet simple to deploy.

Most mainstream streaming providers that have dedicated smart TV apps, like Netflix and HBO Max, have PC versions of their apps. And most of those services are also available via web browsers, which work much better on computers than they do on smart TVs. You can also access local files—all via a user interface that you and anyone else watching TV is probably familiar with already.

With a tethered laptop, you can quickly set up a multi-picture view for watching two games or shows simultaneously. Multi-view support on streaming apps is extremely limited right now, with only Peacock and dedicated sports apps like ESPN and MLB TV offering it.

A laptop also lets you use your dumb TV for common PC tasks, like PC gaming or using productivity software (sometimes you just want to see that spreadsheet on a bigger screen).

Things to keep in mind

Streaming in 4K or HDR sometimes comes with specific requirements that are easy to overlook. Some streaming services, for example, won’t stream in 4K on certain web browsers—or with any web browser at all.

Streaming services sometimes have GPU requirements for 4K and HDR streaming. For example, to stream Netflix in 4K or HDR from a browser, you need Microsoft Edge and an Intel 7th Generation Core or AMD Ryzen CPU or better, plus the latest graphics drivers. Disney+ doesn’t allow 4K HDR streaming from any web browsers. Streaming 4K content in a web browser might also require you to acquire the HEVC/H.265 codec, depending on your system.

If 4K or HDR streaming is critical to you, it’s important to check your streaming providers’ 4K and HDR limits; it may be best to rely on a dedicated app.

If you want to be able to comfortably control your computer from a couch, you’ll also need to invest in some hardware or software. You can get away with a basic Bluetooth mouse and keyboard. Air mice are another popular solution.

The WeChip W1 air mouse.

The WeChip W1 air mouse.

Credit: WeChip/Amazon

The WeChip W1 air mouse. Credit: WeChip/Amazon

If you don’t want extra gadgets taking up space, software like the popular Unified Remote (for iOS and Android) can turn your phone into a remote control for your computer. It also supports Wake-On-LAN.

You may encounter hiccups with streaming availability. Most streaming services available on smart TVs are also accessible via computers, but some aren’t. Many FAST (free ad-supported streaming television) services and channels, such as the Samsung TV Plus service and Filmrise FAST app and channel, are only available via smart TVs. And many streaming services’ apps, including Netflix and Disney+, aren’t available on macOS. If you’re using a very old computer, you might run into compatibility issues with streaming services. Netflix’s PC app, for example, requires Windows 10 or newer, and if you stream Netflix via a browser on a system running an older OS, you’re limited to SD resolution.

And while a laptop and dumb display setup can keep snooping TVs out of your home, there are obviously lots of user tracking and privacy concerns with web browsers, too. You can alleviate some concerns by researching the browsers you want to use for watching TV.

What to connect: A home theater PC

For a more permanent setup, consider a dedicated home theater PC (HTPC). They don’t require beefy, expensive specs and are more flexible than smart TV platforms in terms of software support and customization.

You can pick a system that fits on your living room console table, like a mini PC, or match your home’s aesthetics with a custom build. Raspberry Pis are a diminutive solution that you can dress up in a case and use for various additional tasks, like streaming games from your gaming PC to your TV or creating an AirPlay music server for streaming Spotify and other online music and local music to AirPlay-compatible speakers.

The right accessories can take an HTPC to the next level. You can use an app like TeamViewer or the more TV-remote-like Unified Remote to control your PC with your phone. But investing in dedicated hardware is worthwhile for long-term and multi-person use. Bluetooth keyboards and mice last a long time without needing a charge and can even be combined into one device.

K400 Plus Wireless Touch Keyboard

Logitech’s wireless K400 combines a keyboard with a touchpad.

Credit: Logitech

Logitech’s wireless K400 combines a keyboard with a touchpad. Credit: Logitech

Other popular options for HTPC control are air remotes and the Flirc USB, which plugs into a computer’s USB-A port to enable IR remote control. Speaking of USB ports, you could use them to connect a Blu-ray/DVD player or gaming controller to your HTPC. If you want to add support for live TV, you can still find PCIe over-the-air (OTA) tuner cards.

Pepper Jobs W10 GYRO Smart Remote

The Pepper Jobs W10 GYRO Smart Remote is a popular air remote for controlling Windows 10 PCs.

Credit: Pepper Jobs

The Pepper Jobs W10 GYRO Smart Remote is a popular air remote for controlling Windows 10 PCs. Credit: Pepper Jobs

Helpful software for home theater PCs

With the right software, an HTPC can be more useful to a household than a smart TV. You probably already have some apps in mind for your ideal HTPC. That makes this a fitting time to discuss some solid software that you may not have initially considered or that would be helpful to recommend to other cord cutters.

If you have a lot of media files you’d like to easily navigate through on your HTPC, media server software, such as Plex Media Server, is a lifesaver. Plex specifically has an app streamlined for HTPC use. The company has taken some criticism recently due to changes like new remote access rules, higher prices, and a foray into movie rentals. Although Plex is probably the most common and simplest media server software, alternatives like Jellyfin have been gaining popularity lately and are worth checking out.

Whichever media server software you use, consider pairing it with a dedicated NAS. NAS media servers are especially helpful if you want to let people, including those outside of your household, watch stuff from your media library at any time and without having to keep a high-power system turned on 24/7.

You can stream files from your NAS to a dumb TV by setting up a streaming system—such as a Raspberry Pi, Nvidia Shield, or Apple TV box—that connects to the dumb display. That device can then stream video from the NAS by using Network File System or the Infuse app, for example. 

What to connect: An antenna

Nowadays, you can watch traditional, live TV channels over the Internet through over-the-top streaming services like YouTube TV and Sling TV. But don’t underestimate the power of TV antennas, which have improved in recent years and let you watch stuff for free.

This year, Horowitz Research surveyed 2,200 US adults and found that 19 percent of respondents were still using a TV antenna.

If you haven’t checked them out in a while, you might be surprised by how sleek bunny ears look now. Many of the best TV antennas now have flat, square shapes and can be mounted to your wall or windowsill.

Mohu's Leaf antenna.

Mohu’s Leaf antenna. Bye, bye, bunny ears.

Mohu’s Leaf antenna. Bye, bye, bunny ears. Credit: Mohu

The best part is that companies can’t track what you watch with an antenna. As Nielsen said in a January 2024 blog post:

Big data sources alone can’t provide insight into the viewing behaviors of the millions of viewers who watch TV using a digital antenna.

Antennas have also gotten more versatile. For example, in addition to local stations, an antenna can provide access to dozens of digital subchannels. They’re similar to the free ad-supported television channels gaining popularity with smart TVs users today, in that they often show niche programming or a steady stream of old shows and movies with commercial breaks. You can find a list of channels you’re likely to get with an antenna via this website from the Federal Communications Commission.

TV and movies watched through an antenna are likely to be less compressed than what you get with cable, which means you can get excellent image quality with the right setup.

You can also add DVR capabilities, like record and pause, to live broadcasts through hardware, such as a Tablo OTA DVR device or Plex DVR, a subscription service that lets antenna users add broadcast TV recordings to their Plex media servers.

A diagram of the 4th Gen Tablo's ports.

A diagram of the 4th Gen Tablo’s ports.

A diagram of the 4th Gen Tablo’s ports. Credit: Tablo

Things to keep in mind

You’re unlikely to get 4K or HDR broadcasts with an antenna. ATSC 3.0, also known as Next Gen TV, enables stations to broadcast in 4K HDR but has been rolling out slowly. Legislation recently proposed by the FCC could further slow things.

In order to watch a 4K or HDR broadcast, you’ll also need an ATSC 3.0 tuner or an ATSC 3.0-equipped TV. The latter is rare. LG, for example, dropped support in 2023 over a patent dispute. You can find a list of ATSC 3.0-certified TVs and converters here.

Realistically, an antenna doesn’t have enough channels to provide sufficient entertainment for many modern households. Sixty percent of antenna owners also subscribe to some sort of streaming service, according to Nielsen.

Further, obstructions like tall buildings and power lines could hurt an antenna’s performance. Another challenge is getting support for multiple TVs in your home. If you want OTA TV in multiple rooms, you either need to buy multiple antennas or set up a way to split the signal (such as by using an old coaxial cable and splitter, running a new coaxial cable, or using an OTA DVR, such as a Tablo or SiliconDust’s HDHomeRun).

Photo of Scharon Harding

Scharon is a Senior Technology Reporter at Ars Technica writing news, reviews, and analysis on consumer gadgets and services. She’s been reporting on technology for over 10 years, with bylines at Tom’s Hardware, Channelnomics, and CRN UK.

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cable-channel-subscribers-grew-for-the-first-time-in-8-years-last-quarter

Cable channel subscribers grew for the first time in 8 years last quarter

In a surprising, and likely temporary, turn of events, the number of people paying to watch cable channels has grown.

On Monday, research analyst MoffettNathanson released its “Cord-Cutting Monitor Q3 2025: Signs of Life?” report. It found that the pay TV operators, including cable companies, satellite companies, and virtual multichannel video programming distributors (vMVPDs) like YouTube TV and Fubo, added 303,000 net subscribers in Q3 2025.

According to the report, “There are more linear video subscribers now than there were three months ago. That’s the first time we’ve been able to say that since 2017.”

In Q3 2017, MoffettNathanson reported that pay TV gained 318,000 net new subscribers. But since then, the industry’s subscriber count has been declining, with 1,045,000 customers in Q2 2025, as depicted in the graph below.

MoffettNathanson pay TV subscriber losses

Credit: MoffettNathanson

The world’s largest vMVPD by subscriber count, YouTube TV, claimed 8 million subscribers in February 2024; some analysts estimate that number is now at 9.4 million. In its report, MoffettNathanson estimated that YouTube TV added 750,000 subscribers in Q3 2025, compared to 1 million in Q3 2024.

Traditional pay TV companies also contributed to the industry’s unexpected growth by bundling its services with streaming subscriptions. Charter Communications offers bundles with nine streaming services, including Disney+, Hulu, and HBO Max. In Q3 2024, it saw net attrition of 294,000 customers, compared to about 70,000 in Q3 2025. Other cable companies have made similar moves. Comcast, for example, launched a streaming bundle with Netflix, Peacock, and Apple TV in May 2024. For Q3 2025, Comcast reported its best pay TV subscriber count in almost five years, which was a net loss of 257,000 customers.

Cable channel subscribers grew for the first time in 8 years last quarter Read More »

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Paramount tries to swipe Warner Bros. from Netflix with a hostile takeover

Although the US Department of Justice (DOJ) holds the power to block mergers that it deems to go against antitrust laws, Trump’s influence over the DOJ can’t be overlooked. While Paramount previously seemed to establish a good relationship with the president, Netflix co-CEO Ted Sarandos may have done the same recently.

Sarandos “spoke with the president in the last couple of weeks in a confab that lasted about two hours,” The Hollywood Reporter reported on Sunday, citing “multiple” anonymous sources. A White House official told the publication that they can’t comment on “private meetings that may or may not have occurred,” and Netflix didn’t respond to the publication’s requests for comment.

Meanwhile, Trump’s relationship with the Ellisons and Paramount may have taken a turn recently. Today, the president lashed out at Paramount over an interview with Rep. Marjorie Taylor Greene (R-Ga.) that aired on the news program 60 Minutes. As he said on Truth Social, per The Hollywood Reporter: “My real problem with the show, however, wasn’t the low IQ traitor, it was that the new ownership of 60 Minutes, Paramount, would allow a show like this to air. THEY ARE NO BETTER THAN THE OLD OWNERSHIP, who just paid me millions of Dollars for FAKE REPORTING about your favorite President, ME! Since they bought it, 60 Minutes has actually gotten WORSE.”

Appealing to the movie theater industry

The movie theater industry is one of the biggest critics of Netflix’s WB acquisition due to fear that the streaming leader won’t release as many movies to theaters for as long and may drive down licensing fees. Paramount is leaning into this trepidation.

As one of the oldest film studios (Paramount was founded as Famous Players Film Company in 1912), Paramount has much deeper ties to the theater business. Ellison claimed that if Paramount and WBD merge, there will be “a greater number of movies in theaters.”

Sarandos said last week that Netflix plans to maintain WBD’s current theater release schedule, which reportedly goes through 2029.

In terms of streaming, Paramount’s announcement pointed to a “combination of Paramount+ and HBO Max,” lending credence to a November report that Paramount would fold HBO Max into its own flagship streaming service if it buys WBD.

With numerous industries, big names, billions of dollars, and politics all at play, the saga of the WBD split and/or merger is only just beginning.

This article was updated on December 8 at 2: 31 p.m. ET with comment from Sarandos. 

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Streaming service makes rare decision to lower its monthly fees

Somewhere, a pig is catching some sweet air.

In a rare move for a streaming service, Fubo announced today that it’s lowering the prices for some of its subscription plans.

Fubo is a sports-focused vMVPD (virtual multichannel video programming distributor, or a company that enables people to watch traditional TV channels live over the Internet). Disney closed its acquisition of Fubo in October.

Today, Fubo announced that monthly prices for some of its “Live TV” subscription plans, which include hundreds of channels, including non-sports ones like FX and The Disney Channel, will be up to 14.8 percent cheaper. The new pricing starts with “bill cycle dates on or after January 1, 2026,” Fubo said.

Here are the new prices:

  • Essential: $74 per month (previously $85/month)
  • Pro: $75/month (previously $85/month)
  • Elite: $84/month (previously $95/month)

When streaming services make announcements about price, it almost always means higher costs for subscribers.

However, some subscribers likely feel that the price cut is a necessity and not a perk, since Fubo has not had NBCUniversal channels since November 21. The blacked-out channels include local NBC affiliates, Telemundo, nine regional sports channels (Fubo noted that subscribers may also pay lesser fees after the January billing cycles if any regional sports networks they previously received are no longer available on Fubo), and 32 channels, including Bravo, CNBC, MSNBC, and USA Network. Fubo previously announced that it would give subscribers a $15 credit due to the blackout.

A Fubo spokesperson told Ars Technica that the new prices “reflect NBCU pulling their networks from Fubo.”

Fubo’s representative said they couldn’t comment on whether the new prices would stick if Fubo gets NBCUniversal channels back because that’s “speculative.”

Fubo’s NBCUniversal blackout

In a statement on November 25, Fubo claimed that NBCUniversal is trying to overcharge Fubo for the channels that will live under Versant, a company to be created from the spinoff of NBCUniversal’s cable channels and other digital properties, which is supposed to debut in January.

“Despite them not being worth the cost to Fubo subscribers, Fubo offered to distribute Versant channels for one year,” Fubo said. “NBCU wants Fubo to sign a multi-year deal—well past the time the Versant channels will be owned by a separate company. NBCU wants Fubo subscribers to subsidize these channels.”

Streaming service makes rare decision to lower its monthly fees Read More »

netflix’s-$72b-wb-acquisition-confounds-the-future-of-movie-theaters,-streaming

Netflix’s $72B WB acquisition confounds the future of movie theaters, streaming


Netflix’s plans to own HBO Max, DC Comics, Harry Potter to face regulatory scrutiny.

The bidding war is over, and Netflix has been declared the winner.

After flirting with Paramount Skydance and Comcast, Warner Bros. Discovery (WBD) has decided to sell its streaming and movie studios business to Netflix. If approved, the deal is set to overturn the media landscape and create ripples that will affect Hollywood for years.

$72 billion acquisition

Netflix will pay an equity value of $72 billion, or an approximate total enterprise value of $82.7 billion, for Warner Bros. All of WBD has a $60 billion market value, NBC News notes.

The acquisition will take place after WBD completes the split of its streaming and studios businesses, which includes its film and TV libraries and the HBO channel, and its other TV networks, including CNN and TBS, into separate companies (Warner Bros. and Discovery Global, respectively). WBD’s split is expected to finish in Q3 2026.

Additionally, Netflix’s acquisition is subject to regulatory approvals, WBD shareholder approval, and other “customary closing conditions.”

Netflix expects the purchase to net it more subscribers, higher engagement, and “at least $2–3 billion of cost savings per year by the third year,” its announcement said.

Netflix co-CEO Greg Peters said in a statement that Netflix will use its global reach and business model to bring WB content to “a broader audience.”

The announcement didn’t specify what this means for current WBD staff, including WBD’s current president and CEO, David Zaslav. Gunnar Wiedenfels, who is currently CFO of WBD, is expected to be the CEO of Discovery Global after WBD split.

Netflix to own HBO Max

Netflix will have to overcome regulatory hurdles to complete this deal, which would evolve it from a streaming king to an entertainment juggernaut. If completed, the world’s largest streaming service by subscribers (301.63 million as of January) will own its third biggest rival (WBD has 128 million streaming subscribers, most of which are HBO Max users).

The acquisition would also give Netflix power over a mountain of current and incoming titles, including massive global franchises DC Comics, Game of Thrones, and Harry Potter.

If the deal goes through, Netflix said it will incorporate content from WB Studios, HBO Max, and HBO into Netflix. Netflix is expected to keep HBO Max available as a separate service, at least for the near term, Variety reported today. However, it’s easy to see a future where Netflix tries to push subscriptions bundling Netflix and HBO Max before consolidating the services into one product that would likely be more expensive than Netflix is today. Disney is setting the precedent with its bundles of Disney+ and the recently acquired Hulu, and by featuring a Hulu section within the Disney+ app.

Before today’s announcement, industry folks were concerned about Netflix potentially owning that much content while dominating streaming. However, Netflix said today that buying WB would enable it to “significantly expand US production capacity and continue to grow investment in original content over the long term, which will create jobs and strengthen the entertainment industry.”

Uniting Netflix and HBO Max’s libraries could make it easier for streaming subscribers to find content with fewer apps and fewer subscriptions. However, subscribers could also be negatively impacted (especially around pricing) if Netflix gains too much power, both as a streaming company and media rights holder.

In WBD’s most recent earnings report, its streaming business reported $45 million in quarterly earnings before interest, taxes, depreciation, and amortization. Netflix reported a quarterly net income of $2.55 billion in its most recent earnings report.

Netflix hasn’t detailed plans for the HBO cable channel. But given Netflix’s streaming ethos, the linear network may not endure in the long term. But since the HBO brand is valuable, we expect the name to persist, even if it’s just as a section of prestige titles within Netflix.

“A noose around the theatrical marketplace”

Among the stakeholders most in arms about the planned acquisition is the movie theater industry. Netflix’s co-CEO Ted Sarandos has historically seen minimal value in theaters as a distribution method. In April, he said that making movies “for movie theaters, for the communal experience” is “an outmoded idea.”

Today, Sarandos said that under Netflix, all WB movies will still hit theaters as planned, which brings us through 2029, per Variety.

During a conference call today, Sarandos said he has no “opposition to movies in theaters,” adding, per Variety:

My pushback has been mostly in the fact of the long exclusive windows, which we don’t really think are that consumer-friendly. But when we talk about keeping HBO operating, largely as it is, that also includes their output movie deal with Warner Bros., which includes a life cycle that starts in the movie theater, which we’re going to continue to support.

Notably, the executive said that “Netflix movies will take the same strides they have, which is, some of them do have a short run in the theater beforehand.”

Anticipating today’s announcement, the movie theater industry has been pushing for regulatory scrutiny over the sale of WB.

Michael O’Leary, CEO and president of Cinema United, the biggest exhibition trade organization, said in a statement today about the Netflix acquisition:

Regulators must look closely at the specifics of this proposed transaction and understand the negative impact it will have on consumers, exhibition, and the entertainment industry.

In a letter sent to Congress members this month, an anonymous group that described itself as “concerned feature film producers” wrote that Netflix’s purchase of WB would “effectively hold a noose around the theatrical marketplace” by reducing the number of theatrical releases and driving down the price of licensing fees for films after their theatrical release, as reported by Variety.

Up next: Regulatory hurdles

In the coming weeks, we’ll get a clearer idea of how antitrust concerns and politics may affect Netflix’s acquisition plans.

Recently, other media companies, such as Paramount, have been accused of trying to curry favor with US President Donald Trump in order to get deals approved. The US Department of Justice (DOJ) could try to block Netflix’s acquisition of WB. But there’s reason for Netflix and WB to remain optimistic if that happens. In 2017, Time Warner and AT&T successfully defeated the DOJ’s attempted merger block.

Still, Netflix and WB have their work cut out for them, as skepticism around the deal grows. Last month, US Senators Elizabeth Warren (D-Mass.), Richard Blumenthal (D-Conn.), and Bernie Sanders (I-Vt.) wrote to the DOJ’s antitrust division urging that any WB deal “is grounded in the law, not President Trump’s political favoritism.”

In a letter to Attorney General Pam Bondi last month, Rep. Darrel Issa (R-Calif.) said that buying WB would “enhance” Netflix’s “unequaled market power” and be “presumptively problematic under antitrust law.”

In a statement about Netflix’s announcement shared by NBC News today, a spokesperson for the California attorney general’s office said:

“The Department of Justice believes further consolidation in markets that are central to American economic life—whether in the financial, airline, grocery, or broadcasting and entertainment markets—does not serve the American economy, consumers, or competition well.”

Netflix’s rivals may also seek to challenge the deal. Attorneys for Paramount questioned the “fairness and adequacy” of WBD’s sales process ahead of today’s announcement.

Photo of Scharon Harding

Scharon is a Senior Technology Reporter at Ars Technica writing news, reviews, and analysis on consumer gadgets and services. She’s been reporting on technology for over 10 years, with bylines at Tom’s Hardware, Channelnomics, and CRN UK.

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Prime Video pulls eerily emotionless AI-generated anime dubs after complaints

[S]o many talented voice actors, and you can’t even bother to hire a couple to dub a season of a show??????????? absolutely disrespectful.

Naturally, anime voice actors took offense, too. Damian Mills, for instance, said via X that voicing a “notable queer-coded character like Kaworu” in three Evangelion movie dubs for Prime Video (in 2007, 2009, and 2012) “meant a lot, especially being queer myself.”

Mills, who also does voice acting for other anime, including One Piece (Tanaka) and Dragon Ball Super (Frieza) added, “… using AI to replace dub actors on #BananaFish? It’s insulting and I can’t support this. It’s insane to me. What’s worse is Banana Fish is an older property, so there was no urgency to get a dub created.”

Amazon also seems to have rethought its March statement announcing that it would use AI to dub content “that would not have been dubbed otherwise.” For example, in 2017, Sentai Filmworks released an English dub of No Game, No Life: Zero with human voice actors.

Some dubs pulled

On Tuesday, Gizmodo reported that “several of the English language AI dubs for anime such as Banana Fish, No Game No Life: Zero, and more have now been removed.” However, some AI-generated dubs remain as of this writing, including an English dub for the anime series Pet and a Spanish one for Banana Fish, Ars Technica has confirmed.

Amazon hasn’t commented on the AI-generated dubs or why it took some of them down.

All of this comes despite Amazon’s March announcement that the AI-generated dubs would use “human expertise” for “quality control.”

The sloppy dubbing of cherished anime titles reflects a lack of precision in the broader industry as companies seek to leverage generative AI to save time and money. Prime Video has already been criticized for using AI-generated movie summaries and posters this year. And this summer, anime streaming service Crunchyroll blamed bad AI-generated subtitles on an agreement “violation” by a “third-party vendor.”

Prime Video pulls eerily emotionless AI-generated anime dubs after complaints Read More »

plex’s-crackdown-on-free-remote-streaming-access-starts-this-week

Plex’s crackdown on free remote streaming access starts this week

Plex has previously emphasized its need to keep up with “rising costs,” which include providing support for many different devices and codecs. It has also said that it needs money to implement new features, including an integration with Common Sense Media, a new “bespoke server management app” for managing server users, and “an open and documented API for server integrations,” including custom metadata agents,” per a March blog post.

In January 2024, TechCrunch reported that Plex was nearing profitability and raised $40 million in funding (Plex raised a $50 million growth equity round in 2021). Theoretically, the new remote access rules can also increase subscription revenue and help Plex’s backers see returns on their investments.

However, Plex’s evolution could isolate long-time users who have relied on Plex as a media server for years and those who aren’t interested in subscriptions, FAST (free ad-supported streaming TV) channels, or renting movies. Plex is unlikely to give up on its streaming business, though. In 2023, Scott Hancock, Plex’s then-VP of marketing, said that Plex had more people using its online streaming service than using its media server features since 2022. For people seeking software packages more squarely focused on media hosting, Plex alternatives, like Jellyfin, increasingly look attractive.

Plex’s crackdown on free remote streaming access starts this week Read More »

science-centric-streaming-service-curiosity-stream-is-an-ai-licensing-firm-now

Science-centric streaming service Curiosity Stream is an AI-licensing firm now

We all know streaming services’ usual tricks for making more money: get more subscribers, charge those subscribers more money, and sell ads. But science streaming service Curiosity Stream is taking a new route that could reshape how streaming companies, especially niche options, try to survive.

Discovery Channel founder John Hendricks launched Curiosity Stream in 2015. The streaming service costs $40 per year, and it doesn’t have commercials.

The streaming business has grown to also include the Curiosity Channel TV channel. CuriosityStream Inc. also makes money through original programming and its Curiosity University educational programming. The firm turned its first positive net income in its fiscal Q1 2025, after about a decade of business.

With its focus on science, history, research, and education, Curiosity Stream will always be a smaller player compared to other streaming services. As of March 2023, Curiosity Stream had 23 million subscribers, a paltry user base compared to Netflix’s 301.6 million (as of January 2025).

Still, in an extremely competitive market, Curiosity Stream’s revenue increased 41 percent year over year in its Q3 2025 earnings announced this month. This was largely due to the licensing of Curiosity Stream’s original programming to train large language models (LLMs).

“Looking at our year-to-date numbers, licensing generated $23.4 million through September, which … is already over half of what our subscription business generated for all of 2024,” Phillip Hayden, Curiosity Stream’s CFO, said during a call with investors this month.

Thus far, Curiosity Stream has completed 18 AI-related fulfillments “across video, audio, and code assets” with nine partners, an October announcement said.

The company expects to make more revenue from IP licensing deals with AI companies than it does from subscriptions by 2027, “possibly earlier,” CEO Clint Stinchcomb said during the earnings call.

Science-centric streaming service Curiosity Stream is an AI-licensing firm now Read More »

apple-tv-execs-dismiss-introducing-an-ad-tier,-buying-warner-bros.-discovery

Apple TV execs dismiss introducing an ad tier, buying Warner Bros. Discovery

Focused on original content

Another obvious way to grow Apple TV is through more subscribers. With talk of Warner Bros. Discovery considering a sale, it’s worth wondering if Apple TV may try to grow through acquisition. But the execs Screen International spoke with seemed focused on building out Apple TV’s library with originals. Cue noted that “at least in the timeframe that we’re thinking about right now, we’re not looking at licensing any content or adding anything to our service.”

“We’re building an all-original services; we’re not building on the back of pre-existing IP or library,” Jamie Erlicht, one of Apple’s heads of worldwide video, said.

More directly, when asked if Apple might buy Warner Bros., A24, or Disney, Cue pointed out that Apple hasn’t historically done “a lot of major acquisitions.”

“We do very small acquisitions in general, not related to Apple TV, so I don’t see that happening because we like what we’re doing,” Cue said.

Since its 2019 debut, some have questioned whether Apple TV is an authentic attempt to improve streaming options for customers, or if Apple TV is a “vanity project,” as Screen International put it, or if the service is merely a tool for getting people to buy other Apple products. Naturally, the interviewed executives claimed that the service is built on a commitment to distributing unique and premium shows and movies.

The interview provided more insight on how Apple TV leadership defines the latter. Zack Van Amburg, one of Apple’s heads of worldwide video, said:

A core tenet of everything Apple does is the notion that humanity needs to be at the center of it, and that’s everything from app design to hardware engineering, to everything in between. We try to think a little more deeply about that.

Our shows and our movies tend to be about the emotional experience, the stakes involved, even when we’re doing a comedy.

Apple TV execs dismiss introducing an ad tier, buying Warner Bros. Discovery Read More »

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Higher prices, simpler streaming expected if HBO Max folds into Paramount+


The end of HBO Max is “certainly plausible.”

A still from the second season of HBO’s The Last of Us. Credit: HBO

Warner Bros. Discovery (WBD) has a ‘for sale’ sign up. And that could mean big changes for subscribers to the company’s most popular streaming service, HBO Max.

After receiving unsolicited acquisition offers, WBD recently declared itself open to “strategic alternatives to maximize shareholder value.” WBD drew new attention by being open to selling its streaming business (WBD is also still open to moving forward with previously shared plans to split into a cable company and a streaming and movie studios company next year).

Naturally, mergers and acquisitions talk has heated up since then, with Paramount as one of the most eager suitors. Paramount, which merged with Skydance in August, is reportedly planning to keep “much of Warner Bros. Discovery Inc. intact” if a deal happens, per a Bloomberg report that cited unnamed people familiar with the plans of David Ellison, Paramount’s CEO.

For HBO Max subscribers, the most pertinent part of Bloomberg’s report follows:

Under Ellison’s plan, Warner Bros.’ HBO Max streaming service would merge into the existing Paramount+ platform, one of the people said. He believes combining the offerings will allow more people to see the work of film and TV show creators. The libraries of the two companies will make Paramount+ more compelling for subscribers.

The purported strategy would likely end the ability to subscribe to HBO Max in favor of the opportunity to pay for a beefier version of Paramount+.

More broadly, the merger talks bring into question the future for HBO Max subscribers should Warner Bros. engage in any sort of M&A activity with one of its most desirable businesses.

Higher prices are possible

Choice is typically seen as good for consumers. But in the case of streaming, which only recently overtook broadcast and cable viewing, the recent expansion of services available is often viewed negatively. Streaming fragmentation forces people to jump from service to service in order to find something to watch and to pay for more subscriptions.

As a result, a WBD merger could be a double-edged sword for streaming subscribers. The most obvious con is the potential for price hikes.

Speaking to Ars about a potential WBD merger, Vikrant Mathur, co-founder of streaming technology provider Future Today, said:

On one hand, it means subscribers getting access to a larger library, a simpler content discovery, and a consistent streaming experience, but on the other, we risk increasing subscription costs for current subscribers of both services, a trend that has been leading to subscription fatigue and diminishing the original promise of streaming.

Max Alderman, partner at FE International, an M&A advisory firm with a specialty in content businesses, said HBO Max subscribers can expect “friction” if Paramount buys HBO Max. He pointed out that overlapping platforms often result in “temporary confusion around pricing, content access, and brand continuity.” Alderman added:

Over the longer run, though, a combined offering could improve content breadth and potentially deliver better value per dollar.

Still, a Paramount-owned HBO Max stands the risk of failing to meet subscribers’ expectations, “especially for a service like HBO Max that’s earned a reputation for high-end, prestige programming,” Julie Clark, VP of media and entertainment at TransUnion, which works in streaming ads, told Ars.

The end of HBO Max?

With cable declining, HBO Max is the HBO brand’s best bet at longevity. The idea of HBO dissolving into shows and movies that you find on Paramount+ doesn’t sound like a fitting ending to a 53-year-old brand that has brought us shows like The Sopranos, The Wire, Game of Thrones, and White Lotus. HBO has gone through multiple streaming rebrands, but the end of a dedicated HBO streaming service, as suggested by Bloomberg’s report, is a different level. Yet, HBO Max folding into Paramount+ is “certainly plausible,” according to Alderman.

“The current market doesn’t support redundant platforms competing for the same audience,” he explained.

Today’s streaming services are focused on reaching and maintaining profitability long term. In its most recent earnings report, Paramount’s streaming business, which includes Paramount+, BET+, and Pluto TV, reported adjusted operating income before depreciation and amortization of $157 million, up from $26 million a year ago. The numbers were largely driven by Paramount+ growing subscribers to 77.7 million and charging more.

In its earnings report this week, WBD said that its streaming business, which includes HBO Max and Discovery+, posted earnings before interest, taxes, depreciation, and amortization of $345 million, compared to $289 million a year ago. WBD claims 128 million streaming subscribers, primarily through HBO Max.

“This potential merger underscores the escalating content and distribution costs in the industry,” Alderman said. “For [subscription video on demand platforms] to succeed, they need scale of revenue, as well as operational cost efficiencies, both of which can come through consolidation.” 

It’s understandable that a brand that acquires HBO Max would seek to streamline operations with any streaming business that it already owns. But it’s hard to imagine any buyer throwing out the HBO name.

“I’d be skeptical that the HBO brand is going away completely. We’ve seen the name yo-yo, and it’s clear that it still packs a punch for consumers looking for premium content,” Clark said.

Even if HBO Max lives as a tile within the Paramount+ app, or the app of another buyer, (à la Hulu under Disney+), it wouldn’t make sense to get rid of the legendary acronym completely.

“HBO is one of the few streaming brands that still commands prestige pricing,” Alderman said.

If a company does acquire any form of HBO, one of its top challenges is expected to be streamlining operations while maintaining HBO’s premium brand. This could be especially difficult under a “more mainstream umbrella like Paramount+,” Alderman noted.

Streaming has already diluted the HBO brand somewhat. Through streaming, HBO is now associated with stuff from DC Comics and Cartoon Network, as well as reality shows, like 90 Day Fiancé and Naked and Afraid. Merging with Paramount+ or even Netflix could expand the HBO umbrella more.

That expanded umbrella could allow a company like Paramount to better compete against Netflix, something WBD executives have shied away from. HBO Max is “not everything for everyone in a household,” JB Perrette, WBD’s streaming president and CEO, said this spring.

“What people want from us in a world where they’ve got Netflix and Amazon [Prime Video] are those things that differentiate us,” Casey Bloys, chairman and CEO of HBO and Max content, told The Wall Street Journal in May.

A “stress test” for more streaming mergers

Aside from the impact on HBO Max subscribers, WBD’s merger talks have broad implications. A deal would open the door for much more consolidation in the streaming space, something that experts have been anticipating for some years and that addresses the boom of streaming services. Per Clark, discussions of a Paramount-WBD merger are “less about two studios joining forces and more about a stress test for future M&A.”

If WBD accepts a Paramount bid and that bid clears regulatory hurdles, it would signal that “premium content under fewer umbrellas is back in play,” Clark said.

A Paramount-WBD merger is likely to speed up consolidation among mid-tier players, like NBCUniversal, Lionsgate, and AMC, Alderman said, pointing to these companies’ interest in scaling their streaming businesses and in building differentiated portfolios to counter Netflix and Disney+’s expansive libraries.

If Paramount and WBD don’t merge, Clark expects to see more “piecemeal” strategies, such as rights-sharing, joint venture bundles, and streaming-as-a-service models.

Photo of Scharon Harding

Scharon is a Senior Technology Reporter at Ars Technica writing news, reviews, and analysis on consumer gadgets and services. She’s been reporting on technology for over 10 years, with bylines at Tom’s Hardware, Channelnomics, and CRN UK.

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