The Great Streaming Truce: A New Era of Collaboration Unveiled
The streaming wars have long been a battlefield, but a surprising shift is emerging as industry giants put aside their differences. Once bitter rivals, linear broadcasters and online video platforms are now forging alliances, marking a significant turning point in the entertainment landscape. This unexpected friendship is a far cry from the $1 billion copyright lawsuit Paramount (formerly Viacom) filed against YouTube in 2007, symbolizing the deep divide between traditional TV and the digital frontier.
The lawsuit, which took seven years and millions in legal fees to settle, left a lasting impact on the relationship between U.S. studios and tech giants. Behind closed doors, network executives grumbled about the unchecked power of streaming services, while Netflix, YouTube, and Prime Video saw their linear counterparts as dinosaurs on the brink of extinction. But as time marched on, the ice began to thaw, and streaming services found their way into pay-TV bundles and TV interfaces.
Fast forward to the present, and the TV ad market's decline, coupled with streamers' subscriber saturation and slowing growth, has pushed both sides to bury the hatchet. In 2025, top executives from both camps shook hands on partnerships once deemed unimaginable. Guy Bisson, research director and co-founder of Ampere Analysis, sums it up: "You can be at the center of it, or beholden to others." But here's where it gets controversial—is this newfound harmony a sign of a healthy industry or a desperate attempt to stay afloat?
The first major deal, a landmark pact between Netflix and French network TF1 at Cannes Lions, set the tone. Netflix co-CEO Greg Peters hailed it as a "new kind of partnership," with TF1 handing over its output, including live channels and sports, to the streaming giant. This move, starting in mid-2026, will be a massive experiment in content distribution, but the motivations behind it remain unclear. Is it about Netflix's ad push, local market dominance, subscriber retention, or all of the above?
Following this, Prime Video and France Télévisions partnered, bringing five key channels and 20,000 hours of content from France.TV to the Amazon streamer. France Télévisions CEO Delphine Ernotte Cunci celebrated this as a historic step, enhancing the visibility of France.TV's public service offering. But what does this mean for French producers and rights holders? It's a question that remains unanswered.
These French mega-deals aren't isolated incidents. Netflix has also bundled with Middle Eastern powerhouse MBC in the MENA region, mirroring its U.S. and U.K. pacts. The rationale? MBCNOW, MBC's aggregator, is a rising market leader and Netflix competitor. So, if you can't beat them, join them.
Disney+, meanwhile, has inked branding and content-sharing agreements with ITV (U.K.), ZDF Studios (Germany), and Atresmedia (Spain). The House of Mouse is integrating Hulu into Disney+ internationally and bundling ESPN with Fox One in the States. These unexpected partnerships showcase the industry's evolving dynamics.
Ampere's Bisson describes these alliances as 'diagonal integration,' where broadcasters, facing a declining TV ad market, leverage the reach of streaming rivals. In return, global streamers gain programming expertise, reducing local original content costs and gaining a local news distribution channel. This strategy could be a regulatory loophole, bypassing content quotas in European countries.
Market watchers sense a pivotal moment. Bisson predicts, "We are right on the cusp of the gates opening towards more of these deals." But with change comes uncertainty. The Netflix-TF1 deal has sparked debates at festivals and conferences. Are rights holders compensated for their shows on additional platforms? Will linear network ratings suffer? Who's paying whom, and how much? These questions linger in the minds of industry leaders.
Bisson argues that the rationale for these partnerships is sound. Broadcasters gain local distribution through Netflix and other big streamers, while Netflix secures quality local content it couldn't produce alone. He reveals that streamers are commissioning content at 75% of peak TV levels, making partnerships with local players an attractive option. "Streamers are still 25% down on originals," he notes, adding that these deals reduce the pressure on original content spending.
The regulatory landscape also plays a role. Global streamers typically avoid local news programming, leaving it to terrestrial and public service networks. Some argue that streamers should contribute to a fund supporting local news production. However, French Netflix subscribers can already access TF1's news, and Prime Video viewers can watch France Info, potentially helping streamers navigate regulatory challenges. Even a small increase in news streaming could be a powerful argument against regulation.
Details of the Netflix-TF1 agreement remain scarce, with TF1 declining to comment and Netflix providing minimal information. The two companies have previously collaborated on shows like Les Combattantes and L'Agence, and Netflix's first daily drama series in France, Tout Pour La Lumière. The deal's one-year delay is attributed to Netflix's ingestion of over 30,000 hours of TF1 programming and the preparation of five linear channels. Sources suggest this process aims to align the streaming experiences as closely as possible.
U.S. streaming analyst Dan Rayburn highlights Netflix's caution, emphasizing that the pact is "experimental" and not a precursor to similar deals in the short term. He explains that Netflix wants to learn from this deal, and France's demand and small footprint make it an ideal testing ground. The company sets clear expectations, indicating that similar deals might follow in a few years.
Insiders describe the Netflix-TF1 deal as "opportunistic," influenced by TF1 CEO Rodolphe Belmer's close ties with Netflix's leadership. Belmer served on Netflix's board from 2018 to 2022 while leading pay-TV company Canal+. These relationships have played a role in shaping the current landscape.
Streamers frame these deals as partnerships that benefit local markets and continue long-standing business relationships. Broadcasters see them as a new avenue to reach audiences they struggle to engage alone. Disney's deals with major European free-to-air broadcasters are seen as a positive sign for the industry's future.
A Disney spokesperson highlights their commitment to free-to-air partnerships across Europe for licensing and acquiring TV shows and movies. These agreements aim to provide audiences with more local stories on streaming while supporting local production and the broader ecosystem. Disney's deals vary in size, from select shows to hundreds of hours, showcasing the diverse nature of diagonal integration.
The ITV agreement in the U.K. is a limited deal, primarily serving as a marketing strategy. ITV viewers can access shows like Andor, Only Murders in the Building, and The Kardashians via a rail on ITVX, with a similar rail on Disney+ featuring British shows. Both sides plan to regularly discuss content additions, with titles rotating every eight weeks on average.
Disney+ EMEA General Manager Karl Holmes and ITV content chief Kevin Lygo view the partnership as mutually beneficial. Holmes predicts various models will emerge to achieve similar outcomes, emphasizing the flexibility of these arrangements. These comments preceded Disney's deals with ZDF Studios and Atresmedia, further expanding their partnerships.
As we approach MIPCOM, where TV rights are traded, the issue of compensation from these agreements is a hot topic. When the TF1 and France Télévisions deals were announced, international TV distributors, especially in France, expressed concern. They saw it as a terrestrial network giving away content to a streamer, potentially reducing long-tail value and disrupting funding plans. Interestingly, global streamers often buy the second window to enhance their local content catalogs.
Distributors emphasize the importance of understanding rights. If a term is ignored or changed, reimbursement is expected. The consolidation of certain genres in AVOD platforms has made maintaining relationships with buyers challenging. Despite the complexity, most expect compensation agreements to be reached, and participation rights may already be in effect in some cases.
Some deals are simpler, like Disney+'s partnership with ZDF Studios in Germany, which is a standard distribution transaction. ZDF Studios assures that all rights holders will be fairly remunerated. Streamers also claim that revenue from these deals will maintain or increase content volume for broadcasters' SVOD services.
The changing landscape is about future-proofing. Netflix wants to dominate living rooms, while terrestrials strive to stay relevant and expand digitally. These deals unfold against a backdrop of declining terrestrial TV and industry consolidation. Paramount, recently sold to Skydance, is rumored to be eyeing HBO Max parent Warner Bros. Discovery. Canal+ is acquiring Africa's MultiChoice, and sports streamer DAZN now owns Australian pay-TV giant Foxtel, another example of diagonal integration.
In Europe, MediaForEurope (MFE), controlled by the Berlusconi family, has acquired Germany's ProSiebenSat.1 Media to create a European powerhouse rivaling Netflix. Enders Analysis' François Godard believes MFE is now better positioned to negotiate content deals with streamers. He sees the merger as a positive development for the European TV industry.
Looking ahead, the power dynamics are shifting. Harrington believes control over how people watch, pay for, and interact with content will be crucial. AI search, Google's potential role, 'super aggregator' apps, and emerging technologies are all factors. The industry's future is uncertain, but for now, harmony reigns between streamers and networks.
This era of collaboration may be an oversimplification, but it's unlikely we'll see a broadcaster suing a streamer anytime soon. What do you think? Is this a sign of a healthy industry or a last-ditch effort to survive? Share your thoughts in the comments below!
