Industry Overview - The entertainment consumption landscape has shifted from scheduled cable television to digital streaming platforms over the last two decades, with significant milestones including the launch of YouTube in 2005 and Netflix's on-demand model in 2007 [2] - The global streaming market is projected to generate $190 billion annually by 2029, supported by 2 billion subscriptions, with subscription models dominating while free ad-supported TV and hybrid offerings gain traction [4] Company Insights: Tencent Music Entertainment Group (TME) - TME has evolved from a digital distributor to China's leading online music and audio entertainment platform, reaching over 553 million monthly active users and 124 million paying subscribers, reflecting a 22.5% paying ratio [6][7] - The average revenue per paying user (ARPPU) has climbed to RMB 11.7, with management focusing on SVIP expansion, bundled content offerings, and closer artist partnerships as growth drivers [8] - TME's global expansion strategy includes high-profile concerts and collaborations with international labels, enhancing its cultural reach beyond China [9] - With RMB 34.9 billion in cash reserves, TME is well-positioned to invest in AI-powered music tools and immersive sound technologies [10] Company Insights: Disney - Disney launched Disney+ in 2019, rapidly building a subscriber base of 128 million as of Q3 2025, with a combined subscriber base of 183 million across Disney+, ESPN+, and Hulu [11][12] - The integration of Hulu into Disney+ is expected to create operating synergies and enhance user experiences, while management anticipates over 10 million new subscriptions in Q4 2025 due to expanded distribution agreements [13][14] - Sports streaming is a key growth area, with ESPN's direct-to-consumer service launching in August 2025, backed by exclusive rights to WWE events and a deal with the NFL [15][16] Company Insights: Roku - Roku is the leading TV streaming platform provider in North America, evolving from a streaming device manufacturer to a comprehensive streaming ecosystem [17] - The Roku Channel has become a significant driver of engagement, with streaming hours reaching 35.4 billion in Q2 2025, up 17.6% year over year [19] - Roku's platform fundamentals are strong, supported by high user engagement and strategic partnerships, with the Roku Home Screen reaching over 125 million households daily [20]

Core Thesis - Warner Bros. Discovery, Inc. (WBD) has reported its first positive net result in Q2 2025 after a challenging restructuring period post-2022 merger, with a significant corporate split planned by mid-2026 to unlock value [2][3][4] Financial Performance - WBD's share price was $16.17 as of September 11th, with trailing and forward P/E ratios of 52.16 and 39.06 respectively [1] - Q2 results showed strong performance in the Streaming & Studios segment, with 3.4 million net subscriber additions, reaching nearly 126 million subscribers, generating $3.8 billion in revenue and $863 million in EBITDA [3] - Linear Networks experienced a 9% revenue decline to $4.8 billion, with EBITDA falling 24% due to increasing cord-cutting trends [4] - Despite a GAAP profit of $1.6 billion, free cash flow decreased to $702 million, impacted by taxes, interest, and separation costs [4] Corporate Strategy - The upcoming split will create two distinct entities: Warner Bros. "Streaming & Studios" and Discovery Global, aimed at isolating high-growth assets from declining linear TV operations [2][3] - The split is structured to be tax-free, with Discovery Global retaining a 20% stake in Warner Bros. for debt reduction purposes [3] - Strategic partnerships, such as HBO Max's deal in Southeast Asia, highlight WBD's focus on global expansion [3] Market Positioning - The separation is expected to provide clearer valuation comparisons, positioning Warner Bros. alongside competitors like Netflix and Disney, while Discovery Global will be compared to Fox, AMC, and Comcast [4] - The sum-of-the-parts valuation approach may lead to significant rerating of WBD as the market begins to value its high-growth and legacy businesses separately [4] Historical Context - The stock price of WBD has appreciated approximately 45% since previous bullish coverage in February 2025, which emphasized the company's debt burden and potential divestiture of linear assets to enhance streaming growth [5]

RT Bloomberg Live (@BloombergLive)India’s @JioStar has quickly cemented its place among the streaming elite after unifying JioCinema and Disney+ Hotstar earlier this year. #BloombergScreentimeHost @Lucas_Shaw sits down with Vice Chairman Uday Shankar 10/9 in LA.Join the conversation: https://t.co/se5PjIKxIM ...

[प्रशंसा] [संगीत] थ्री इयर्स एगो आई टूक अ डिसीजन दैट लिटरली एवरीवन टोल्ड मी दैट दिस इज गोइंग टू बी द डमेस्ट डिसीजन ऑफ योर लाइफ बाय दैट सी अ लॉट ऑफ़ डम डिसीजंस ऑन माय एंड लेट्स टॉक अबाउट दैट मेरे कॉलेज का फाइनल सेमेस्टर का फाइनल एग्जाम था आई वास जस्ट वन वन पेपर अवे फ्रॉम गेटिंग माय डिग्री इन माय हैंड्स। द डे ऑफ़ एग्जाम केम। द इनविजुलेटर कॉल्ड आउट माय नेम बट माय आंसर शीट वाज़ स्टिल एम्प्टी। आई सॉ ऑल माय फ्रेंड्स वर वाकिंग टुवर्ड्स द एग्जाम हॉल। लेकिन मैं ऑपोजिट डायरेक्शन में जा रहा था। आई वाज़ गोइंग आउट ऑफ द गेट् ...

From standing ovations to controversial statements on stage and the red carpet, the Emmy Awards providing viral moments with millions of views and plenty of chatter across the web. on the edge of your knife. >> The pit.>> Even as ratings for live award shows continue their longunning decline, >> people are reading about the shows. They're watching the shows a little bit, but it's when they get to the office on Monday morning and someone says, "Did you see the Steven Cobear clip? That's how people are consum ...

Long-run pandemic effects, streaming’s rise, younger audiences: @carla_subirana tells “The Intelligence” why once-overlooked sports are drawing investor interest. Listen now https://t.co/kHJ5zyIe54 https://t.co/w5D2UXJBP0 ...

Uh, joining us now um to recap the Emmys, uh, I guess we can do that, uh, Variety executive veter editor Brett Lang. I guess we can keep it to, uh, streamers versus Legacy versus Linear. Uh, because I I did see the first five minutes.I I admit it, Brent. Um, I'm not usually up that late, but they made fun of streaming. I think they said another way to lose money, didn't they.Yeah, they certainly did. Uh, but I mean, if you look at who actually won here, the streamers absolutely dominated. You had Netflix th ...

Platform Advantage - Pumpfun streamer 的可发现性优于其他平台 [1] - Bagwork guys 本周开始直播，并利用直播收入参与了地球上最大的活动 [1] Success Story - 通过 Pumpfun 直播，一周内从零开始到参与重大活动，证明了该平台对新人的机会 [1]

lmaoPFTV (@pumpfun_tv):These two 19 yr old kids have taken the streaming world by storm...They went from nobodies 48 hours ago to flying private to watching Canelo vs. Crawford ringside, all while making over $100,000 in Creator Fees on PumpFunThis is the INSANE story of BAGWORK 🧵 https://t.co/xxA3EuyIYk ...

Media Format Trends - Streaming has surpassed podcasting as the primary media format in the crypto space [1] - Clippings featuring prominent figures are now a key strategy for brand distribution [1] Narrative Control - Clippings are considered a top lever for managing narratives in the current attention-driven environment [1]