The Great Reconciliation: Streamers and TV Networks Unite!
Once upon a time, the relationship between linear broadcasters and online video platforms was as tense as a courtroom drama. Remember the $1 billion lawsuit Paramount (then Viacom) filed against YouTube in 2007? It was a clear sign that these two worlds couldn't coexist peacefully, let alone collaborate.
Paramount accused YouTube of illegally streaming its shows, and it took a whopping seven years and millions of dollars in legal fees to reach a settlement. While public discourse between U.S. studios and tech giants became more friendly, the tension lingered. Behind closed doors, network executives grumbled about the unchecked power of streamers, while Netflix, YouTube, and Prime Video saw their linear counterparts as dinosaurs on the brink of extinction.
Fast forward to today, and the ice has thawed. Streaming services are now bundled with pay-TV operators and prominently featured on TV interfaces. But the relationship still had its fair share of bumps.
This year, with the TV ad market in decline and streamers facing subscriber saturation, both sides have put aside their differences and are marching towards a shared future. In 2025, top executives from both camps have been sealing partnerships that once seemed like a distant dream. Guy Bisson, research director and co-founder of Ampere Analysis, sums it up perfectly: 'You can be at the center of it, or beholden to others.'
The first major move was a groundbreaking pact between Netflix and French commercial network TF1 at Cannes Lions. Netflix co-CEO Greg Peters hailed it as a 'new kind of partnership,' akin to NBC or ABC handing over their entire output, including live channels and sports, to a streaming service.
Starting in mid-2026, this experiment will shake up television content distribution. Is it Netflix's ad push, local expansion, or subscriber retention strategy? Only time will tell.
Following this, a wave of similar agreements emerged, including Prime Video and France Télévisions' local partnership. This deal brings five key channels and 20,000 hours of content from France.TV to the Amazon streamer. France Télévisions CEO Delphine Ernotte Cunci celebrated it 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? That's the million-dollar question.
Controversy Alert: These French mega-deals aren't the only instances of networks and streamers joining forces. Netflix has also partnered with Middle Eastern giant MBC in the MENA region, mirroring its U.S. and U.K. pacts. Why? Because MBC's aggregator MBCNOW is a rising star and a Netflix rival. So, if you can't beat 'em, join 'em!
Disney+ has also been busy, signing branding and content sharing agreements with ITV in the U.K., ZDF Studios in Germany, and Atresmedia in Spain. The House of Mouse is integrating Hulu into Disney+ and launching it internationally, while bundling ESPN with Fox One in the States. Get ready for more surprising partnerships!
These partnerships are part of what Ampere calls 'diagonal integration.' Broadcasters, facing a declining TV ad market, leverage the reach of streaming rivals. In return, global streamers gain programming expertise from their linear partners, reducing local original content costs and gaining a distribution channel for local news. It's a potential regulatory loophole, bypassing content quotas in European countries.
Market watchers believe the future is unfolding before our eyes. Ampere's Bisson says, 'We are right on the cusp of the gates opening towards more of these deals.'
But here's where it gets controversial...
The Netflix-TF1 deal has sparked intense debate. Are the rights holders of the shows on additional platforms being compensated? Will linear network ratings suffer? Who's paying whom? These are the burning questions on industry executives' minds.
Bisson clarifies, 'For broadcasters, leveraging the local reach of Netflix and other big streamers for distribution is a no-brainer. It's a two-way street; Netflix gains high-quality local content it couldn't produce alone.'
Ampere's research reveals that streamers are commissioning content at 75% of peak TV levels, and partnering with local giants is a strategic move to stock up on new content. Bisson adds, 'Streamers are still 25% down on originals, and these deals make their original content spend less crucial.'
Regarding Netflix's local regulatory position, there's an upside. Global streamers are unlikely to venture into local news programming, leaving it to terrestrial and public service networks. Some argue that they should contribute to a fund ensuring local players can sustain news output.
However, French Netflix subscribers can already access TF1's news, and Prime Video viewers can watch France Info. This could be a strong argument against regulation, as even a small increase in news streaming audiences can make a difference.
Netflix and TF1 are tight-lipped about their agreement, with TF1 declining to comment. A Netflix spokesperson simply stated that their distribution partnership begins in summer 2026, with more details to come.
The two have previously collaborated on shows like Les Combattantes and L’Agence, and Netflix's first daily drama series in France, Tout Pour La Lumière.
Why the one-year delay? Netflix is ingesting over 30,000 hours of TF1 programming and preparing five linear channels, aiming for a seamless user experience. A source close to the deal says, 'Netflix is not relying on TF1; they're bringing their streaming propositions together.'
U.S. streaming analyst Dan Rayburn notes that Netflix execs have emphasized the 'experimental' nature of the pact, not as a prelude to similar deals in the short term. He adds, 'Netflix made it clear this is a learning experience, and France's demand and small footprint are factors. They set realistic market expectations.'
Insiders describe the Netflix-TF1 deal as 'opportunistic,' stemming from TF1 CEO Rodolphe Belmer's close ties with Netflix's top executives. Belmer served on Netflix's board from 2018 to 2022 while leading pay-TV player Canal+, maintaining a strong relationship with Reed Hastings and co-CEOs Ted Sarandos and Peters.
Streamers view these deals as partnerships that benefit local markets and continue long-standing business relationships built on content licensing and acquisition. 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 future.
A Disney spokesperson said, 'We're proud of our relationships with free-to-air partners across Europe for licensing and acquiring TV shows and movies. These agreements give audiences 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, proving there's no one-size-fits-all approach to diagonal integration. Enders Analysis' Harrington describes the ITV agreement in the U.K. as 'limited' and 'marketing-focused.' ITV viewers can access shows like Andor, Only Murders in the Building, and The Kardashians via ITVX, and ITVX content will be available on Disney+. Both sides will regularly discuss content additions, with titles rotating every eight weeks on average.
Disney+ EMEA General Manager Karl Holmes and ITV content chief Kevin Lygo call it a 'mutually beneficial relationship,' with Holmes predicting 'different models' for similar outcomes in the future.
Comment Hook: As we approach MIPCOM, where TV rights are traded, the compensation issue is a hot topic. When TF1 and France Télévisions announced their deals, international TV distributors, especially in France, expressed concern. They saw it as a terrestrial network giving away content to a streamer, losing the chance for a domestic second window. This could impact content value and funding plans, as global streamers often buy that second window to enhance local catalogs.
A major distributor source explains, 'If you need deficit financing and the second window contributes, you'd get a streamer's help. But if it's a TF1 show on Netflix, another service won't pay a premium.'
Anonymous sellers emphasize that series investment depends on controlling rights. If terms are ignored or changed, reimbursement is expected. 'It must be compensated,' says one distributor.
Another seller adds, 'This is about consolidation, and while certain genres thrive in AVOD, losing direct relationships is challenging. You understand buyer preferences.'
Despite the complexity, most expect a compensation agreement, and participation rights may already be in play. Long-term partners often update contract terms, and if everyone feels fairly treated, disputes are unlikely. A source reveals that streamer carriage deals guaranteeing second-window sales simplify financial projections for new shows.
Some deals are simpler. Disney+'s partnership in Germany with ZDF Studios, the production and sales arm of German pubcaster ZDF, is a standard distribution transaction. A ZDF Studios spokesperson confirms, 'All rights holders will be remunerated, and no other rights are affected.' Streamers also claim that deal revenue will maintain or increase content volume for broadcasters' SVOD services.
Looking Ahead: The evolving relationship between networks and streamers is about future-proofing. Netflix wants to be in living rooms, and terrestrials aim to stay relevant and expand digitally. These deals come amid a post-peak TV era, with terrestrial TV in decline and consolidation as the new normal. Paramount, recently sold to Skydance, is rumored to be eyeing HBO Max parent Warner Bros. Discovery. Canal+ is acquiring Africa's MultiChoice for $2 billion, and sports streamer DAZN now owns Australian pay-TV giant Foxtel, another diagonal integration example.
In Europe, MediaForEurope (MFE), controlled by the Berlusconi family, has acquired Germany's ProSiebenSat.1 Media to create a European giant to rival Netflix. Enders Analysis' François Godard believes MFE is now better positioned to negotiate content deals with streamers following this summer's announcements.
Looking further ahead, Godard's colleague, Harrington, says, 'The power lies with those who control how people watch, pay, and interact with content.' This includes AI search, Google, super aggregator apps, and technologies we can't yet imagine.
The industry faces an uncertain future, but for now, harmony reigns between streamers and networks. While it's an oversimplification, we're unlikely to see a broadcaster suing a streamer anytime soon.
