In this exclusive, must-listen interview, Top Wall Street media analyst Michael Nathanson dives into the major issues driving the TV and streaming industries.
Top-line conclusions from the U.S. Advertising: Competition is Healthy…and Hard Report (1:00)
Amazon Prime Video had an enormous impact on the AVOD market in the first half of the year.
The impact of Prime Video (5:00)
Michael Nathanson of MoffettNathanson explains how Amazon Prime Video’s entry into the AVOD market impacted ad sales and discusses the big losers from Prime Video’s ad market blitz.
Ad growth accelerates (8:40)
The company is expecting ad growth to reach 33% this year.
YouTube’s impact on the market (9:30)
YouTube is already the leading streaming service on connected TV in the US. Michael explains the service’s overall strategy and heaps praise on YouTube TV.
Why has TV lost so much share of advertising (14:00)
The report says TV’s share of overall ad spending, including AVOD, in the US was 32% but will fall to 21% this year. I asked him why. He shares his forecast for YouTube TV subscribers and market position in 2026. We also discuss why YouTube is such a threat to traditional television providers.
The FAST market (22:30)
The FAST market seems to be cooling slightly, but Michael cautions against falling ad rates.
Broadcasters and the DTC market (26:30)
Why broadcasters are having such a tough time in the direct-to-consumer market, and what to do about it.
Broadcaster managers didn’t act soon enough with streaming (32:00)
Is streaming future supported by ads? (34:50)
Can bundles change broadcaster’s DTC success (35:30)
Big tech and the television industry (39:40)
The biggest surprise in the next year (41:30)
Michael pays tribute to Netflix’s paid-sharing approach and predicts everyone will follow.
