Streaming Giants Shake Up Entertainment with Strategic Moves

Paramount+ enters a five-year deal to stream PBR's 'Unleash the Beast'. Warner Bros Discovery faces unexpected losses as they consider a business split. Netflix shifts its measurement metric, targeting 190 million viewers with ads and expanding into advertising and video games for growth.

Paramount+ has secured a pivotal media rights agreement, partnering with Professional Bull Riders to stream the 'Unleash the Beast' series starting December. This decision sets the stage for top bull riders globally as they vie for championship accolades, previously broadcasted on CBS Sports.

In a financial twist, Warner Bros Discovery reported significant losses this quarter. The downturn, driven by underperforming streaming services and dwindling cable TV revenues, clouds its otherwise robust studio division. Despite this, shares surged modestly as the company mulls over restructuring possibilities.

Meanwhile, Netflix is innovating its advertising reach, boasting over 190 million global viewers. By transitioning to a viewer-based metric, Netflix aims to enhance measured ad impact while branching out into new domains like advertising and video gaming, though these remain minor revenue components currently.

(With inputs from agencies.)