Netflix has acquired Warner Bros Discovery, including HBO and its entire film and television archive.
Reportedly worth $82.7 billion, the acquisition will bring together Netflix’s 270 million global subscribers with Warner’s prestigious catalogue.
Giant shows like Game of Thrones, Succession, and The White Lotus may ultimately migrate to Netflix.
For advertisers and media planners, the combination presents a few opportunities.
In the UK, the vast majority of adults use Connected TV (CTV) devices, and CTV ad spend is forecast to hit £2 billion by 2026.
Globally, the CTV market is forecast to nearly double over the next five years, estimated $267.7 billion in 2024, and projected to reach $530.9 billion by 2030.
What does this consolidation mean in practice?
Ads on a unified Netflix–Warner CTV service would reach an enormous audience across global territories, delivered alongside premium, high-engagement content.
As CTV consumption and ad spend accelerate, brands may shift even more of their video budgets away from linear broadcast and digital display toward addressable, data-enabled CTV campaigns.
With data from both companies’ streaming viewers, the combined platform could offer refined audience segments and more efficient ad delivery, potentially commanding higher CPMs.
The acquisition is subject to regulatory approval and shareholder ratification, but should it pass, it could mark a major turning point for CTV advertising. For performance marketers, this is welcome news.
