Streaming Giants Shake Up Entertainment: New Deals and Metrics

Paramount+ will stream PBR's 'Unleash the Beast' after a five-year media rights deal. Warner Bros Discovery posted significant losses amid potential restructuring. Meanwhile, Netflix introduced a new metric reflecting its ad reach, now reaching 190 million viewers worldwide, marking a strategic shift in the streaming landscape.

In a significant move, Paramount+ has secured a five-year media rights deal to stream Professional Bull Riders' 'Unleash the Beast'. Set to begin in December, this addition brings the top level of the bull riding competition to a broader audience, aligning with ongoing CBS Sports broadcasts.

Warner Bros Discovery announced a larger-than-expected loss for the quarter, attributing declines to slow streaming growth and a faltering cable TV segment. Despite volatile trading, their stock value doubled this year amid potential sale discussions and plans to split the studio from cable operations.

Meanwhile, Netflix has introduced a new viewer-based metric, revealing that its ads now reach 190 million monthly active viewers globally. This adjustment aims to reflect reach more accurately, as Netflix explores advertising and gaming sectors, areas not yet significantly impacting revenue, analysts note.

(With inputs from agencies.)