MediaTalk

What does the future of global media look like as traditional pay TV declines, streaming matures and sports rights become more valuable than ever? In this episode of "MediaTalk," S&P Global Market Intelligence Kagan analysts examine the forces reshaping the technology, media and telecom sectors across the United States and Europe. The discussion covers telcos divesting content businesses, bundling Netflix and other OTT services, mobile and fiber consolidation, the slower adoption of 5G, and the financial benefits of replacing copper networks with fiber. The episode also explores why live sports remain a powerful advertising engine and how leagues are monetizing digital and social-media rights. As streaming growth shifts from subscriber acquisition to profitability, are ad-supported plans and telco bundles becoming the next major growth drivers? Listen for insights on the global advertising outlook, sports-rights negotiations, AI applications in media and the trends likely to dominate conversations at IBC and an upcoming Kagan London briefing. More S&P Global content: Navigating the Chaos of Sports Media Rights Fragmentation Maximizing Sports Media Rights Value: Benchmarking, Negotiation, & Market Intelligence in 2026 Featured experts: Justin Nielson, head of Kagan Research at S&P Global Market Intelligence. Mohammed Hamza, principal research analyst at S&P Global Market Intelligence Kagan. Georgia Jordan, research analyst at S&P Global Market Intelligence Kagan. Michail Chandakas, analyst at S&P Global Market Intelligence Kagan.  Richard Berndes, associate media analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

The 2026-27 NFL season offers a compelling case study in media strategy and valuation growth. The league is accelerating its international footprint, with nine games abroad this season — including its first-ever broadcast from Australia via Netflix — and plans to expand to 10 international games next year. This global push, paired with strong streaming momentum (Amazon's Thursday Night Football viewership is up 16% year-over-year), signals a gradual narrowing of the gap between streaming and traditional broadcast audiences. On the linear side, incumbents remain formidable: NBC's Sunday Night Football has held the top primetime slot for 15 consecutive years, while CBS and FOX both posted their strongest NFL viewership in nearly a decade. Meanwhile, ESPN's inaugural Super Bowl telecast, to be simulcast on ABC, sold out its advertising inventory by August — the earliest in the event's history — with 30-second spots commanding an estimated $8 million to $9 million. Will the broadcast break viewership records across linear and digital platforms? These trends underscore a broader reality: media rights and franchise valuations continue to climb. The NFL isn't just America's most-watched sport — it's an increasingly global media and business enterprise. More S&P Global content: Navigating the Chaos of Sports Media Rights Fragmentation Maximizing Sports Media Rights Value: Benchmarking, Negotiation, & Market Intelligence in 2026 Featured experts: Justin Nielson, head of Kagan Research at S&P Global Market Intelligence. Scott Robson, principal analyst at S&P Global Market Intelligence Kagan. Michael Johnson, research analyst at S&P Global Market Intelligence Kagan. Iuri Struta, tech capital markets reporter at S&P Global Market Intelligence Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

College football's 2026-'27 season is here — and with it comes a landscape reshaped by realignment, billion-dollar media deals, and mounting legal battles over athlete compensation. In this episode of "MediaTalk," S&P Global Market Intelligence Kagan analysts Justin Nielson, Scott Robson and Michael Johnson join host Mike Reynolds to break down what business leaders and media executives need to know heading into the season. Three key questions this episode answers: How are conference realignment and media rights deals reshaping college football's competitive and financial landscape? From the reshuffled Pac-12 and Mountain West to the Big Ten's $8 billion windfall and the SEC's $710 million annual ESPN payout, the money is moving fast. What's next for the College Football Playoff, and how will expansion affect viewership and network competition? With ESPN's $7.8 billion extension and TNT's expanded footprint, the stakes — and the audiences — keep growing. How are NIL rules, transfer portal litigation, and new legislation like the Protect College Sports Act reshaping player economics? Get ahead of the legal and financial shifts redefining amateur athletics. Plus: bold championship predictions from all four experts. Tune in before Week Zero kicks off. More S&P Global content: Navigating the Chaos of Sports Media Rights Fragmentation Maximizing Sports Media Rights Value: Benchmarking, Negotiation, & Market Intelligence in 2026 Featured experts: Justin Nielson, head of Kagan Research at S&P Global Market Intelligence. Scott Robson, principal analyst at S&P Global Market Intelligence Kagan. Michael Johnson, research analyst at S&P Global Market Intelligence Kagan. Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

SpaceX's Starlink is making bold moves in the direct-to-device (D2D) arena, but can it really challenge traditional carriers like Verizon, AT&T, and T-Mobile? The latest "MediaTalk" episode dives deep into SpaceX's ambitious plan to build a hybrid satellite-terrestrial network. While Starlink leads in rural connectivity, experts question whether it can overcome massive technical hurdles in dense urban markets.  Meanwhile, the "Big Three" mobile carriers are fighting back with new strategies: T-Mobile pivots to profitability over growth; AT&T leverages fiber bundles with a 42.5% conversion rate; and Verizon posts best subscriber growth in 5 years. The D2D space is heating up with Amazon's $10 billion Globalstar acquisition and AST SpaceMobile's carrier partnerships. As 6G approaches, will satellite-terrestrial hybrids disrupt traditional mobile, or are physics and economics too challenging? More S&P Global content: Orbit as the Next Data Frontier: Capital Flows, Risk, and Realities Featured experts: Lynnette Luna, senior research analyst at S&P Global Market Intelligence Kagan. Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

The latest "MediaTalk" podcast unpacks three regulatory developments transforming the tech, media, and telecom sectors: Spectrum Auction Returns: The FCC is set to auction 160 megahertz of upper C-band spectrum by July 2027 — the first auction in years. This mid-band spectrum will supercharge 5G and fixed wireless capabilities, with commercial service launching in major markets by 2030. Broadcast Ownership Cap Eliminated: The FCC repealed the decades-old 39% national ownership cap for TV station ownership. This controversial move could trigger a consolidation wave in local broadcasting, though antitrust scrutiny and legal challenges loom large. Data Center Backlash: Communities nationwide are pushing back on data center development. From Wisconsin to New York, voters and local governments are implementing moratoriums, citing concerns about electricity costs, grid strain, and resource allocation.  As midterm elections approach, these issues are moving from regulatory debates to campaign platforms. Will political pressure translate into lasting policy changes? More S&P Global content: Local governments push back against data center development Featured experts: Stefan Modrich, tech policy reporter for S&P Global Market Intelligence  Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

In an age of ongoing cord-cutting, "MediaTalk" sits down with S&P Global Market Intelligence Kagan analyst Brian Bacon to break down who is subscribing to what video service and why based on the latest insights from the Kagan Consumer Insights survey. The numbers tell an interesting story: overall US TV satisfaction jumped from 34% to 39% year-over-year, with virtual providers like YouTube TV and Hulu with Live TV leading the pack. But here's where it gets intriguing — Charter's Seamless Entertainment hybrid model, bundling traditional cable with ad-supported streaming services, is showing promising satisfaction rates among subscribers who use the included SVOD options. The conversation also explores the rise of "virtual basic cable" — internet-only TV packages from operators like Charter, Comcast, and Cox that blur the lines between traditional and streaming services. With sports content remaining the ultimate satisfaction driver and bundling becoming increasingly complex, the media landscape is evolving faster than ever. The episode explores:  Are subscribers willing to juggle multiple streaming platforms to catch all their favorite sports, or is there a breaking point? Could hybrid bundles that combine traditional TV with streaming services be the future of cable — or just a temporary bridge? More S&P Global content: Virtual options provide a new take on basic cable TV MediaTalk | Season 4 | Ep. 28 - How NCTC Helps Small Operators Compete in a Consolidating Market Featured experts: Brian Bacon, research analyst on the Consumer Insights team within S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

The 2026 FIFA World Cup was a resounding commercial triumph, setting a new benchmark for global sporting events. The tournament shattered revenue expectations, with projections climbing from $11 billion to a record $15 billion for the cycle. This success was driven by several factors that worked exceptionally well across geographies. What Worked: Unprecedented Viewership & Attendance: The tournament saw near-100% stadium occupancy. In the US, the final became the most-watched soccer match ever, delivering massive ratings for rights holders Fox and Telemundo. Viewership was also incredibly strong in Europe and the APAC region, despite challenging time zones. Aggressive Monetization: The introduction of in-game "hydration breaks" proved to be a financial windfall for US broadcaster Fox, contributing to a combined ad sales total of nearly $1.2 billion with Telemundo. Furthermore, FIFA's global partnerships with YouTube and TikTok successfully extended engagement and created new content opportunities. What Didn't Work So Well: Fan & Broadcaster Friction: While a commercial success in the US, the hydration breaks received a less favorable fan reaction globally, with some feeling it disrupted the game's flow. European and some APAC broadcasters were unable to monetize these breaks due to tighter advertising regulations. Technical & Logistical Hurdles: The integration of VAR technology remained a point of controversy, especially in terms of some key goals. In Europe, streaming latency continues to be an issue, diminishing the live viewing experience for audiences seconds behind the broadcast feed. Ultimately, the 2026 World Cup showcased a powerful and evolving commercial model, but also highlighted the ongoing challenge of balancing monetization and technology with the global fan experience. More S&P Global content: MediaTalk | Season 4 | Ep. 23 - FIFA World Cup 2026: Global Media Rights, Ads vs. Sponsors, and Streaming Wars The Business of Sports Frequently Asked Question: Can Hosting the World Cup Move the Economic Needle? Featured experts: Michael Johnson, research analyst at S&P Global Market Intelligence Kagan Victor Heng, associate research analyst at S&P Global Market Intelligence Kagan. JP O'Sullivan, research analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

As the media industry experiences a whirlwind of M&A activity, S&P Global Ratings' Naveen Sarma sits down with "MediaTalk" host Mike Reynolds to explain what is driving the spike in activity. From Nexstar-Tegna's legal limbo to Charter's $34.5 billion Cox acquisition, and Paramount Skydance's blockbuster play for Warner Bros. Discovery, consolidation is reshaping the industry. The driving force? Scale. Companies need scale in content, global reach, and distribution to compete in an increasingly globalized streaming world. But there's a catch: leverage. These mega-deals are being fueled by a combination of debt and private credit, and Sarma warns that high leverage ratios could impact credit ratings and long-term viability. Meanwhile, Comcast's potential NBCU spin-off signals the end of vertical integration in US media and distribution — a strategy that captured CEO imaginations for two decades. With foreign investment, state attorneys general and strategic repositioning all in play, the next year will be critical for media companies navigating this transformation. More S&P Global content: Comcast Ratings Placed On CreditWatch Negative Following Announcement Of Split The Ratings Implications of Paramount's Proposed Capital Structure Featured experts: Naveen Sarma, S&P Global Ratings Managing Director and Sector Lead, Media and Telecom, North America Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

In this MediaTalk episode, NCTC CEO Lou Borrelli highlights the mounting challenges smaller and independent operators face amidst industry consolidation, slowing broadband growth, and escalating retransmission costs. Borrelli noted that consolidation pressures can impact member morale and reduce organizational scale, as larger members are acquired. While broadband remains the leading product, NCTC members face fierce competition even in smaller markets. Borrelli discussed how NCTC tries to help by enabling innovative solutions like broadband TV and mobile bundles, and AI solutions. Borrelli notes that for smaller operators, NCTC remains a vital ally, helping members navigate industry shifts, manage costs, and deliver value to local customers. More S&P Global content: MediaTalk | Season 4 | Ep. 22 - Kagan Media & Telecom Summit Preview: Streaming, Sports Rights, Broadband, M&A Outlook for 2026 Featured experts: Lou Borrelli, CEO of the National Content & Technology Cooperative Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

The gaming landscape is shifting fast. In this episode of "MediaTalk," S&P Global Market Intelligence Kagan analyst Neil Barbour breaks down the sector's biggest stories: Chinese mega-publishers like Tencent and NetEase are crushing it with smart live-service strategies, while Xbox struggles under the weight of $800 console price tags and shrinking margins. Meanwhile, Nintendo's Switch 2 is dominating hardware sales even without a blockbuster Mario or Zelda title. But it's not all consoles and controllers. Neil explores what PC gaming growth means and why Roblox's safety measures could slow its meteoric increases. The conversation takes a futuristic turn at the Augmented World Expo, where Neil test-drives the latest smart glasses from Meta, Snap, XReal, and the sleeper hit Raven Prism — revealing which devices might actually make it into our daily lives. Are $800 consoles pricing out the next generation of gamers? Will consumers adopt smart glasses in public if they solve real problems? More S&P Global content: Data & Dimensions | Ep. 6 - An Investment Insider's Look at Gaming in 2026 Data & Dimensions | Ep. 13 - What Xbox could learn from Atari Featured experts: Neil Barbour, S&P Global Market Intelligence Kagan analyst  Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

In this episode of "MediaTalk," host Mike Reynolds and S&P Global Market Intelligence Kagan analysts Peter Leitzinger and Jessica Cahill explore why podcasting continues to accelerate — from growing monthly listener numbers to shifting audience segments by age, gender, and genre. They break down what's driving adoption, including video podcasting — and how platforms like YouTube and Spotify are changing discovery — plus where listeners are tuning in most often. The conversation also turns to monetization: why advertisers value highly engaged, loyal podcast audiences and what that could mean for ad revenue through 2031. Beyond the numbers, the episode highlights how podcast content remains highly segmented, from politics to true crime to sports — and how platform choice shapes reach. More S&P Global content: Podcasts from S&P Global Market Intelligence Featured experts: Jessica Cahill, analyst at S&P Global Market Intelligence Kagan. Peter Leitzinger, analyst at S&P Global Market Intelligence Kagan. Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

This "MediaTalk" episode breaks down the early trading days following SpaceX's historic IPO on June 12, exploring why the stock surged, why it later cooled, and what investors are really buying into. The conversation connects SpaceX's valuation metrics to lessons from past IPO booms, including the dotcom era, while also unpacking how today's AI story is reshaping market appetite across sectors. The guests discuss how retail participation, IPO "bumps," and subsequent volatility can influence expectations — and they also dig into major developments after going public, including the Cursor acquisition, a bond sale and new computing power arrangements. From space launch demand and satellite supply dynamics, this episode ties big-picture market forces to company-level execution. What matters more for SpaceX's next chapter: AI-driven growth or satellite infrastructure fundamentals? And will the year of the AI IPO accelerate or stall as trading volatility continues? More S&P Global content: S&P Global Ratings Webinar: Launching S&P's Ratings on SpaceX Featured experts: John Fletcher, principal research analyst at S&P Global Market Intelligence Kagan. Iuri Struta, tech capital markets reporter at S&P Global Market Intelligence Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds sits down with Kagan's Justin Nielson and Seth Shafer to break down some of the major themes reshaping media right now, including Fox's purchase of Roku, advertising-based video on demand's (AVOD's) continued ascent, the migration of sports rights and the maturation of the streaming market. First, they unpack Fox's acquisition of Roku, framing it as a strategic advertising and connected TV expansion. With Roku already heavily driven by ad revenue, the deal signals how Fox is chasing ad dollars — and audience scale — without taking on the full burden of streaming subscription competition. Next, the conversation turns to AVOD growth. Nielson and Shafer highlight why ad-supported models are gaining traction as consumers face rising streaming costs. AVOD is increasingly becoming a durable revenue engine, even as ad spend patterns continue to evolve. Finally, they explore sports streaming maturity: rights are shifting, but linear still dominates many live events. As more sports move to streaming, how much migration is actually happening versus what still remains stubbornly linear — and what does that mean potential regulatory and legislative efforts? More S&P Global content: Kagan Research Kagan Media & Telecom Summit Preview: Streaming, Sports Rights, Broadband, M&A Outlook for 2026 Featured experts: Justin Nielson, head of Kagan Research at S&P Global Market Intelligence. Seth Shafer, principal analyst at S&P Global Market Intelligence Kagan. Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James

"MediaTalk" host Mike Reynolds and S&P Global Kagan analysts unpack what's driving the business of the FIFA 2026 Men's World Cup — far beyond matches on the pitch. The episode explores how broadcast and streaming rights are shaping FIFA's revenue, including the scale of global coverage and multi-market deals. From Fox and Telemundo in the US to major commitments in China and India, the discussion highlights how media rights are evolving toward multiplatform distribution. The episode also breaks down how advertisers and sponsors are positioning around the tournament's expanded footprint — covering sponsorship tiers, premium ad inventory, and why brand exposure is becoming more tightly managed. Finally, we look at streaming competition and what it could mean for future rights cycles, with global platforms likely to play a larger role. The episode answers: How does consumption vary across global markets when it comes to watching games on the big screen vs. mobile?  How will concerns about ticket pricing and transportation impact this year's tournament? More S&P Global content: The Business of Sports Frequently Asked Question: Can Hosting the World Cup Move the Economic Needle? The Decisive | Season 6 | Ep.9 - From Free Trade to Managed Trade: The Next Phase of USMCA Featured experts: Michael Johnson, research analyst at S&P Global Market Intelligence Kagan Bruno do Amaral, research analyst at S&P Global Market Intelligence Kagan. Ariel Thomas Rodriguez, senior research analyst at S&P Global Market Intelligence Kagan. Richard Berndes, associate media analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds provides a preview of the Kagan Media & Telecom Summit 2026 on June 9 at The Commons in Midtown Manhattan. The episode spotlights what attendees can expect across the media value chain — streaming's continued rise, the evolving economics of sports rights, and how broadband infrastructure and advertising technology are shaping what viewers and advertisers can access next. Along the way, speakers preview multiple sessions: an advertising outlook focused on whether TV can win back advertisers and fuel new growth; a sports media panel that breaks down how deal structure, valuation, monetization, and capital/technology are reshaping the ecosystem; and a broadband discussion on closing adoption gaps through fixed wireless and satellite internet. The conversation also turns to deal-making, with a merger mania segment exploring why media M&A is heating up and what's driving changing valuations and financing mechanisms. What role is foreign money playing in media M&A? Has the expected wave of deregulation happened? More S&P Global content: Kagan Media & Telecom Summit 2026 Featured experts: Justin Nielson, head of Kagan Research at S&P Global Market Intelligence. Scott Robson, principal analyst at S&P Global Market Intelligence Kagan. Michael Johnson, research analyst at S&P Global Market Intelligence Kagan. Seth Shafer, principal analyst at S&P Global Market Intelligence Kagan. John Fletcher, principal research analyst at S&P Global Market Intelligence Kagan. Sarah James, TMT News Lead at S&P Global Market Intelligence   Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James

Hollywood loves a sequel and so do we. As "MediaTalk" takes a Memorial Day weekend break, we present a reprise of our summer box office outlook. S&P Global's box office experts, Wade Holden and Mac Mathews, point to a slate packed with major franchises and originals — from The Devil Wears Prada 2 to Supergirl, a new Spider-Man entry, and Christopher Nolan's The Odyssey — as key reasons the market could push past the $4 billion summer threshold. We'll be back next week with a new episode previewing our upcoming Kagan Media & Telecom Summit, followed the week after with an episode about the FIFA World Cup 2026. More S&P Global content: Kagan Media & Telecom Summit 2026 Featured experts: Wade Holden, senior research analyst at S&P Global Market Intelligence Kagan Mac Mathews, associate director of editorial, design and publishing at S&P Global Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James

Following a spring box office rebound, the latest "MediaTalk" episode highlights why the industry is entering summer 2026 with real momentum. S&P Global's box office experts, Wade Holden and Mac Mathews, point to a slate packed with major franchises and originals — from The Devil Wears Prada 2 to Supergirl, a new Spider-Man entry, and Christopher Nolan's The Odyssey — as key reasons the market could push past the $4 billion summer threshold. The conversation also underscores a meaningful audience shift: Gen Z is increasingly shaping theatrical performance, especially around low-budget horror, event films, and rediscovered catalog IP that gained traction through streaming. At the same time, the success of female-skewing sequels and musical biopics suggests the box office is becoming less dependent on superhero titles alone. Is the 2026 box office recovery starting to look structural rather than cyclical? And will wider theatrical windows become the new expectation — even for streaming-native studios? More S&P Global content: Kagan Media & Telecom Summit 2026 Featured experts: Wade Holden, senior research analyst at S&P Global Market Intelligence Kagan Mac Mathews, associate director of editorial, design and publishing at S&P Global Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James

In this episode of "MediaTalk," the S&P Global Market Intelligence team brings together reporters from around the globe to unpack the seismic shifts underway in the space technology sector. With SpaceX's highly anticipated IPO on the horizon, the team explores how this historic event could reshape not just the space industry, but the broader IPO market. Key insights include the changing dynamics between SpaceX and the US government, with Defense Department contracts now outpacing NASA's. The team examines how these factors complicate investor visibility and legal protections — especially as SpaceX considers waiving traditional lock-up periods. The episode also spotlights Starlink's rapid growth and its first-mover advantage in the US satellite internet market, as well as Amazon's strategic moves with its Globalstar acquisition. Space technology M&A activity is surging in 2026, even as the rise of mega constellations prompts questions about market capacity and competition. As the space tech sector enters a new orbit, MediaTalk asks: Will SpaceX's IPO set a new standard for tech listings, or drain capital from smaller players? Are mega constellations and vertical integration the keys to long-term dominance, or will new entrants disrupt the status quo? More S&P Global content: Kagan Media & Telecom Summit 2026 Featured experts: Stefan Modrich, tech policy reporter for S&P Global Market Intelligence  Nick Lazzaro, capital markets reporter at S&P Global Market Intelligence Ikrama Ranjha, newswriter at S&P Global Market Intelligence Mark Gubagaras, newswriter at S&P Global Market Intelligence Iuri Struta, tech capital markets reporter at S&P Global Market Intelligence Sarah James, TMT News Lead at S&P Global Market Intelligence Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

The 2026 upfront season has arrived, when media companies showcase their upcoming content and advertisers seize the opportunity to secure prime placement in front of millions of viewers. This strategic period sets the stage for the entire TV season, influencing buying decisions and gauging the health of the advertising ecosystem. In this episode, Mike Reynolds sits down with Sean Cunningham, President and CEO of the Video Advertising Bureau, to explore how the media landscape is transforming. From streaming giants reshaping consumer expectations to the rise of connected TV, the conversation reveals why premium video content — defined by professional production, emotional engagement, brand safety, and transparency — remains the gold standard for marketers, regardless of platform. But there's a catch: questions about long-accepted currencies have created measurement instability, particularly for cable entertainment and key demographics. Cunningham discusses whether first-party data from media companies might be the next solution to the industry's currency crisis. Will this year's upfront finally bring stability to video advertising, or are we headed for another round of marketplace uncertainty? And as non-human traffic dominates the internet, how will marketers ensure their premium video investments actually reach real consumers? More S&P Global content: Kagan Media & Telecom Summit 2026 Featured experts: Sean Cunningham, VAB CEO and President  Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

After decades of playing second fiddle to cable and satellite, the broadcast industry is back in a big way. Station groups are getting bigger, sports rights deals are getting more expensive and the line between broadcast and streaming content is blurring. In this "MediaTalk" episode, S&P Global Market Intelligence Kagan's Justin Nielson and Scott Robson unpack what they saw on the ground at the NAB Show and a parallel sports tech conference in Las Vegas. First: Are traditional broadcasters back in the live sports game? The answer is yes — but differently. Station groups are stepping into the vacuum left by regional sports networks, picking up local NBA, MLB and NHL games, while ATSC 3.0, or next-gen TV, deployments in markets like Brazil and the Caribbean showcase how broadcast is evolving into a hybrid, data-rich IP platform. Second: Where are the new revenue and profit engines? Political and sports remain core, but experimentation is happening around alternative game casts, ultra-low latency streaming for in-game betting and AI-driven creative. At the same time, transformational M&A deals, including a potential SiriusXM-iHeartMedia combination, offer opportunities for synergies. For media, tech and advertising leaders, this episode is a concise tour of where the next wave of sports, news and ad dollars is likely to flow. More S&P Global content: MediaTalk | Season 4 | Ep. 16 - Betting on the Future: How Prediction Markets Are Changing the Game Featured experts: Justin Nielson, head of Kagan Research at S&P Global Market Intelligence. Scott Robson, principal analyst at S&P Global Market Intelligence Kagan. Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds and S&P Global Market Intelligence tech policy reporter Stefan Modrich dive into the rapidly evolving world of prediction market platforms like Kalshi and Polymarket. They explore how these platforms, which allow users to wager on everything from political events to sports outcomes, are blurring the lines between traditional betting and financial markets. The conversation covers regulatory challenges, particularly the ongoing debate between state and federal oversight led by the Commodity Futures Trading Commission (CFTC), and highlights the platforms' growing influence in mainstream media and professional sports leagues. The episode also addresses concerns around market manipulation, insider trading, and the ethical boundaries of prediction markets, especially as they intersect with AI and controversial "death contracts." As these platforms expand and attract partnerships with major leagues and media organizations, their regulatory future remains uncertain. More S&P Global content: Prediction markets create insider trading loophole as enforcement lags Featured experts: Stefan Modrich, tech policy reporter for S&P Global Market Intelligence  Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

With the 2026 US midterms shaping up to be a major windfall for political advertising, this "MediaTalk" episode unpacks how media companies should position for it. Control of Congress is up for grabs, with a handful of "toss-up" Senate and House races. On top of that are the gubernatorial races. Taken together, record-level spending is expected. Local broadcast remains a cornerstone, with estimates of $4 billion in political revenue for local TV. Meanwhile, connected TV is no longer incremental — it's becoming a primary budget line thanks to targeting and reach beyond shrinking pay TV. The conversation also highlights how station groups with heavy exposure in battleground states — and potentially a reshaped landscape if major consolidation proceeds — could disproportionately benefit. The episode considers how local broadcasters should package linear and connected TV to defend pricing power. Also, which states and ad markets will drive the most spending? More S&P Global content: Technology, Media, & Telecoms Featured experts: Steve Passwaiter, president of Silver Oak Political Peter Leitzinger, analyst at S&P Global Market Intelligence Kagan. Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

Sports media is entering a period of rapid change: rights costs keep climbing, distribution is splintering, and leagues are rethinking how to reach fans who no longer live in a single bundle. In this "MediaTalk" episode, S&P Global Market Intelligence's Kagan team unpacks the globalization of sports rights, the shift of local games from collapsing regional sports networks to broadcast stations, and the accelerating move to direct-to-consumer streaming that promises reach but tests pricing tolerance. The conversation also flags how 2026-era mega-events and the rapid evolution of sports betting and prediction markets are adding new revenue streams — and new complexity — for media companies trying to balance scale, exclusivity, and profitability. If fragmentation is the new normal, who will win the customer relationship: leagues, platforms, or aggregators? How much more will fans pay before "must-have" sports becomes a subscription breaking point? More S&P Global content: Navigating the Chaos of Sports Media Rights Fragmentation Maximizing Sports Media Rights Value: Benchmarking, Negotiation, & Market Intelligence in 2026 Featured experts: Justin Nielson, principal analyst at S&P Global Market Intelligence Kagan. Scott Robson, principal analyst at S&P Global Market Intelligence Kagan. Michael Johnson, research analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

The Masters may be a tradition unlike any other, but its media rights strategy is evolving in a very modern way as more coverage migrates to streaming. Starting in 2026, Augusta National adds Amazon Prime Video as a new domestic partner, giving Prime two exclusive hours of live coverage on Thursday and Friday before ESPN's afternoon coverage begins. CBS remains the weekend broadcast home. This "MediaTalk" episode explores whether the streaming expansion will enhance the Masters' mystique — or dilute the scarcity that makes it so valuable? The conversation turns to PGA Tour CEO Brian Rolapp's proposed structural overhaul—fewer but bigger events, more presence in major U.S. markets, and even promotion/relegation — framing it as a bid to increase competitive intensity and year-round narrative. If the PGA Tour adopts relegation and fewer "bigger" events, does that strengthen the product — or risk alienating core fans and sponsors?  Also discussed is Versant's evolving sports portfolio, streaming's expanding role across rights packages, LIV's uneven US traction despite wider distribution, and the outlook for TGL/WTGL. More S&P Global content: Navigating the Chaos of Sports Media Rights Fragmentation Maximizing Sports Media Rights Value: Benchmarking, Negotiation, & Market Intelligence in 2026 Featured experts: Scott Robson, principal analyst at S&P Global Market Intelligence Kagan. Michael Johnson, research analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" delves into the ins and outs of baseball media rights, distribution disruption, and the business model pressure points shaping MLB's next decade. The episode unpacks how MLB's new ABS (Automated Ball-Strike) challenge system adds a layer of on-field strategy without fully replacing human umpires, reflecting a broader theme: incremental tech adoption with high-stakes outcomes. From there, the conversation pivots to the World Baseball Classic's breakout viewership, underscoring how premium events can generate outsized audience demand and advertiser value. The biggest story, though, is structural: the collapse and restructuring of the regional sports network (RSN) ecosystem and MLB's expanding role in local production and direct-to-consumer distribution. With top franchises still collecting massive local rights fees while others face uncertainty, the episode highlights widening competitive imbalance — fueling concerns that the next labor fight could center on caps, floors, and revenue sharing. Will MLB successfully centralize local streaming by 2028 — or will big-market teams block the model to protect premium RSN economics? Finally, the episode examines why Netflix and NBC want curated MLB inventory and what that signals about sports' role in reducing churn and owning "appointment" windows. As streamers cherry-pick tentpole games, what's the next must-have rights package that will reshape sports media valuations? More S&P Global content: Navigating the Chaos of Sports Media Rights Fragmentation Maximizing Sports Media Rights Value: Benchmarking, Negotiation, & Market Intelligence in 2026 Featured experts: Scott Robson, principal analyst at S&P Global Market Intelligence Kagan. Michael Johnson, research analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

March Madness is a case study in how premium sports rights stand to be repackaged and monetized in an increasingly  fragmented TV-and-streaming ecosystem. This "MediaTalk" episode highlights the long-running CBS and TNT Sports partnership as an unusually durable co-rights model — one that blends broadcast reach with cable affiliate economics and modern streaming distribution. With the looming possibility of Paramount Skydance and Warner Bros. Discovery becoming corporate teammates, the episode explores what consolidation could mean for rights strategy, brand architecture and platform rationalization. A key theme: distribution optionality is now paramount. Between March Madness Live, Paramount+ and HBO Max, the tournament demonstrates how major events can drive authentication, subscriptions, and ad sales across multiple endpoints. However, this also raises the question of whether three parallel digital destinations is sustainable long-term. The episode also connects tournament scheduling and expansion chatter to broader sports calendar realities and ad inventory constraints. Beyond rights, the episode digs into NIL and federal policy proposals (including the SCORE Act and College Sports Competitiveness Act) as forces that could reshape cost structures, conference leverage, and the long-run economics underpinning media deals. Finally, the episode frames sports betting — including prediction markets — as an increasingly material engagement layer, especially in non-legal betting states. More S&P Global content: Navigating the Chaos of Sports Media Rights Fragmentation Maximizing Sports Media Rights Value: Benchmarking, Negotiation, & Market Intelligence in 2026 Featured experts: Justin Nielson, principal analyst at S&P Global Market Intelligence Kagan. Scott Robson, principal analyst at S&P Global Market Intelligence Kagan. Michael Johnson, research analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

Broadband is behaving more like a true utility, with churn holding near a remarkably low 1% per month for fixed broadband, comparable only to mobile phone providers. Moves remain the top driver of customer loss, followed by the hunt for lower prices and frustrations with service quality, especially among older households, families with children, and higher-income users who are more intolerant of outages. Speed, while important, ranks further down the list of reasons to switch. At the same time, competitive pressure is intensifying. Fixed wireless access is scaling quickly in both rural and suburban/urban markets, and Starlink's aggressive pricing and rapid growth are reshaping satellite broadband economics ahead of a potential IPO. Fiber leaders like Verizon Fios and Frontier show the lowest churn, and cable operators are leaning on deep bundles to lock in customers for five to 10 years. As broadband matures, will pricing and service quality outweigh speed as the decisive factors in retention? Can incumbents hold the line against fixed wireless and LEO satellite challengers? More S&P Global content: US Broadband monthly churn hits 1.3% Fixed wireless subscribers by state  Featured experts: John Fletcher, principal research analyst at S&P Global Market Intelligence Kagan. Brian Bacon, research analyst on the Consumer Insights team within S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

Funding for the generative AI sector has shattered records in just two months of 2026, surpassing all of 2025. OpenAI's staggering $120 billion funding round, alongside Anthropic's $30 billion and X.AI's $20 billion, signals unprecedented confidence in AI's transformative potential. But the story extends beyond foundation models. As traditional venture capital firms find themselves priced out of mega-rounds, capital is flowing into the application and infrastructure layers, particularly code generation — currently AI's most proven use case. Meanwhile, the SaaS sector faces an existential reckoning as investors question whether AI-native businesses can deliver superior customer value at lower marginal costs. The infrastructure race intensifies as hyperscalers like Microsoft, Amazon, and Google compete for AI supremacy, driving data center valuations into the stratosphere. Yet power constraints loom large — 2026 may mark the first year a data center project fails purely due to energy shortages. With gas turbine manufacturers booked through 2030, the question isn't just about capital availability, but physical infrastructure capacity. This episode explores what happens when unprecedented capital deployment for AI funding collides with fundamental resource constraints and energy supply reality.  More S&P Global content: GenAI VC Funding: A 2026 Outlook Datacenter Dealmaking: Can the Record-Breaking Momentum Continue in 2026? Featured experts: Iuri Struta, senior reporter at S&P Global Market Intelligence  Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds sits down with Mike Donoghue, CEO and co-founder of Subtext, to discuss how AI is reshaping brand-consumer relationships in today's cluttered digital landscape. Subtext, a short message service marketing platform, recorded remarkable growth last year, notching a more than 100% revenue increase in 2025. Donoghue emphasized that while AI is inevitable, its proper application is critical. Rather than replacing human voices, Subtext uses AI to analyze consumer responses and generate actionable insights. "People want to talk through machines, not to machines," he explained, highlighting that brands foregoing genuine human connection risk losing relevance in an increasingly automated world. As email marketing faces AI-driven disruption similar to what search experienced, more publishers are turning to SMS to maintain direct audience relationships without big tech gatekeepers. This episode explores what the balance between AI efficiency and human connection will look like in 2026 and 2027, and how brands are preparing for the AI-driven transformation of traditional communication channels. Are direct, unfiltered connections an essential strategy to stand out in an increasingly automated world? More S&P Global content: Technology, Media, & Telecoms GenAI VC Funding: A 2026 Outlook Featured experts: Mike Donoghue, CEO and co-founder of Subtext Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds is joined by three analysts from S&P Global Market Intelligence Kagan to discuss the evolving landscape of mobile and broadband markets across the US and Europe in 2026. The discussion highlighted how connectivity has become the central focus for telecommunications providers, with streaming service aggregation emerging as the new strategic approach for traditional operators seeking to maintain relevance in an increasingly competitive marketplace. The conversation revealed contrasting trends in pay TV markets, with the US showing some resilience in 2025 after years of decline, particularly through virtual providers like YouTube TV. European markets have experienced less dramatic subscriber losses due to stronger bundling strategies and robust free-to-air options that continue to satisfy consumer demand. These regional differences underscore how market structures and consumer preferences continue to shape telecommunications business models differently across geographies. The analysts emphasized how the convergence of fixed and mobile services is fundamentally reshaping competition in the telecommunications sector. T-Mobile's strategic expansion into fiber, cable companies' growing mobile service offerings, and the acceleration of fixed wireless access are creating new competitive dynamics that blur traditional industry boundaries. Meanwhile, the media landscape continues to transform as telecommunications companies increasingly divest content assets that are being consolidated by dedicated media companies. These shifts suggest a fundamental restructuring of how telecommunications services will be packaged, marketed and delivered to consumers in the coming years. More S&P Global content: Technology, Media, & Telecoms Fixed wireless subscribers by state  Featured experts: Lynnette Luna, senior research analyst at S&P Global Market Intelligence Kagan. John Fletcher, principal research analyst at S&P Global Market Intelligence Kagan. Mohammed Hamza, principal research analyst at S&P Global Market Intelligence Kagan. Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

For better or worse, the domestic box office is changing. While the pre-pandemic film calendar was dominated by super hero movies, the current box office calendar has more room for director auteurs and A-list actors to make their marks. This episode explores how expectations around theatrical windows are changing — as "Zootopia 2" enjoys an especially long and lucrative run in theaters. Meanwhile, Netflix is trying to buy Warner Bros. while simultaneously flip-flopping on a 7 vs. 17 vs. 45-day window for films in theaters.  This "MediaTalk" episode makes the case for the unique role that theaters play for audiences and filmmakers. What will 2026 bring? How are studios adapting their release and marketing strategies in a streaming-first world?  More S&P Global content: MediaTalk | Season 2 EP 14 - The Summer Box Office Begins - https://www.spglobal.com/marketintelligence/en/news-insights/podcasts/mediatalk-s2-ep-14 Featured experts: Wade Holden, senior research analyst at S&P Global Market Intelligence Kagan Mac Mathews, associate director of editorial, design and publishing at S&P Global Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James

Super Bowl 60 is not just the biggest NFL game of the year — it is arguably the single biggest media and advertising event on the sports calendar. "MediaTalk" host Mike Reynolds is joined by a panel of S&P Global Market Intelligence Kagan analysts to unpack how NBC's presentation of the big game across NBC, Telemundo and Peacock turns the matchup into a cross-platform showcase designed to maximize reach and ad yield. The episode examines the NFL's strong regular-season audience and how recent Nielsen measurement changes — especially "Big Data + Panel" and expanded out-of-home tracking — matter when interpreting year-over-year growth. The discussion also touches on streaming's continued momentum and how premium live sports can scale outside traditional TV, even as linear remains the dominant mass-reach environment. On the ad side, the headline is pricing: the most expensive 30-second spots reportedly fetched $10 million this year, with the average around $8 million. Advertisers remain willing to pay up for the cultural impact and attention that is hard to replicate elsewhere. The group also flags the expected surge of AI-themed Super Bowl advertisers and debates whether this year can match last season's 127.7 million record audience. More S&P Global content: The Business of Sports  Moneyball: The impact of sports media rights on the US video market Featured experts: Justin Nielson, head of Kagan Research at S&P Global Market Intelligence. Scott Robson, principal analyst at S&P Global Market Intelligence Kagan. Michael Johnson, research analyst at S&P Global Market Intelligence Kagan. Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

With the Winter Olympics quickly approaching, expectations are high — both in terms of the potential US medal count and the viewership and revenue opportunities for US rightsholder NBCUniversal.  "MediaTalk" host Mike Reynolds is joined by Gary Zenkel, president of NBC Olympics to discuss his outlook for this year's Winter Games. NBC anticipates strong audience interest, robust advertiser participation, and a Peacock experience that converts Olympic demand into sustained streaming usage. The network says Olympic ad inventory was sold out about a month before opening day, reinforcing the Games' status as a scarce, brand-safe property and extending the momentum NBC saw in Paris. Operationally, Zenkel describes a large-scale, efficiency-driven production model that blends on-site coverage in Italy with expanded remote production from Stamford, Connecticut. The approach reflects pandemic-era acceleration of technology-enabled workflows, designed to control costs while still delivering comprehensive coverage across platforms. Peacock is positioned as the centerpiece of the consumer experience and the growth engine for streaming engagement. NBCUniversal plans to offer the broadest access through Peacock — live events, replays, sport deep dives, and curated viewing options — while using NBC's prime-time show as a story-forward package that drives mass reach and daily buzz. Zenkel notes that total distribution across streaming and linear will exceed 3,000 hours, underscoring Peacock's role in delivering breadth and personalization. More S&P Global content: How Sports Media Rights Are Changing the Game for Fans and Networks Featured experts: Gary Zenkel, President, NBC Olympics Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds is joined by S&P Global Market Intelligence Kagan analysts Seth Shafer and Michail Chandakas to explore the streaming landscape in the US and Europe as we look ahead to 2026. The conversation explores how leading platforms like Netflix, HBO Max, and Paramount+ are evolving amid market saturation, M&A activity and shifting consumer habits. Seth Shafer highlights the maturation of the US streaming market, where growth is slowing and consolidation is becoming a strategic necessity. He points to the increasing role of bundled offerings and the challenge of sustaining subscriber growth as households juggle multiple services. Michail Chandakas provides a European perspective, noting Netflix's dominant market share and the launch of HBO Max in new territories. He observes that partnerships between US streamers and local broadcasters are becoming more aggressive, helping both sides reach broader audiences and meet local content quotas. Sports streaming is another hot topic, with both analysts agreeing that live sports rights are crucial for driving engagement — but also create fragmentation as fans chase content across platforms. The rise of ad-supported streaming is a key driver of growth, particularly in Europe, though monetization remains a challenge. More S&P Global content: Implications of the Netflix-Warner Bros. Discovery deal for the APAC region Featured experts: Seth Shafer, principal analyst at S&P Global Market Intelligence Kagan. Michail Chandakas, analyst at S&P Global Market Intelligence Kagan.  Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" listeners get an insider's view of the CES 2026 through the eyes of S&P Global Market Intelligence's Neil Barbour and Stefan Modrich. The pair provide an in-depth look at the latest advancements in robotics and AI showcased at the annual consumer tech trade show. The discussion highlights the capabilities and limitations of the newest robots, which can perform tasks like serving coffee, playing ping pong, and even taking Polaroid snapshots. Despite these advancements, the episode questions whether robots are ready to enter our homes, noting they remain slow, clunky, and prone to errors, making them more suited for industrial settings for now. On the policy front, the episode explores the evolving landscape surrounding AI, touching on federal and state-level debates over regulation. What are the implications of the AI executive order and the federal preemption of state laws? How will policies impact tech giants like Nvidia, especially regarding international trade and semiconductor supply chains? This episode offers a critical look at how policy and technology intersect, shaping the future of AI and robotics in 2026 and beyond. More S&P Global content: Data & Dimensions | Ep. 1 -The Future of XR Hardware at Work and Play Featured experts: Neil Barbour, S&P Global Market Intelligence Kagan analyst Stefan Modrich, tech policy reporter for S&P Global Market Intelligence  Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

The first "MediaTalk" episode from 2026 explores the shifting media landscape expected in the coming year, focusing on the sports, cable and broadcast sectors. Major sports leagues — including the NBA, MLB, and UFC — are reshaping their media rights strategies, with deals that increasingly prioritize streaming platforms alongside traditional broadcasters. These moves aim to broaden audience reach but also introduce new cost considerations for fans, such as higher monthly fees to access comprehensive coverage. The cable business remains profitable, but subscriber erosion continues. The launch of direct-to-consumer offerings from ESPN and Fox, plus genre-specific streaming bundles from YouTube TV, reflect a response to changing viewer habits and the decline of the traditional pay-TV bundle. Consolidation is a key theme, with ongoing mergers and acquisitions in both the US and Europe, as companies seek scale and operational efficiencies to compete with global streaming giants. Looking ahead, marquee events like the FIFA World Cup and Winter Olympics are expected to drive temporary spikes in viewership and ad spending in 2026. However, the long-term outlook for cable and broadcast networks is uncertain, as industry players navigate evolving consumer preferences, regulatory challenges, and the continued rise of digital platforms. More S&P Global content: The Business of Sports  Moneyball: The impact of sports media rights on the US video market Featured experts: Justin Nielson, head of Kagan Research at S&P Global Market Intelligence. Scott Robson, principal analyst at S&P Global Market Intelligence Kagan. Michael Johnson, research analyst at S&P Global Market Intelligence Kagan. JP O'Sullivan, research analyst at S&P Global Market Intelligence Kagan. Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

With the holidays upon us, "MediaTalk" host Mike Reynolds and producer Sarah James are taking a bit of a break. A new season of the podcast will return in January with previews of what 2026 may hold across the various media, telecom and tech sectors. Until then, we wish you and yours the best of the holidays and a great start to 2026! Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

Using proprietary consumer data from S&P Global Market Intelligence Kagan, "MediaTalk" host Mike Reynolds and Kagan analyst Brian Bacon explore how platforms are navigating the evolving sports media landscape. Netflix, known for its eclectic selection of sports content, is gradually expanding its portfolio with offerings like the WWE Raw franchise and select MLB games. Yet, it remains a platform where sports are not the primary draw. How does this strategy impact its subscriber base, especially when only a quarter of users cite sports as a crucial factor for subscribing?  In contrast, Peacock leverages a more robust sports lineup, including NHL games and Olympic coverage, aiming to replicate the success of NBC Sports. Despite this, the survey reveals a split among users on the importance of sports content, as the bulk of Peacock's sports rights remain available on Comcast's linear TV networks.  The episode also delves into demographic insights, revealing intriguing gender and age preferences in sports fandom. The Kansas City Chiefs top the list among female respondents, possibly hinting at broader cultural influences. Meanwhile, younger viewers (18-44) favor NBA teams like the Lakers, highlighting generational shifts in sports preferences.  The episode explores how these strategies and demographic insights are shaping the future of sports streaming. Are these platforms meeting the diverse needs of their audiences, or is there room for growth?  More S&P Global content: Top 10 US pro sports teams, 2025 Featured experts: Brian Bacon, research analyst on the Consumer Insights team within S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds is joined by S&P Global Market Intelligence tech policy reporter Stefan Modrich to explore the complex world of US export controls on NVIDIA and other chipmakers. The conversation covers the latest developments in AI chip exports, including the US government's evolving stance on allowing NVIDIA's H200 GPUs to reach select customers in China, while still blocking access to advanced Blackwell chips. What does this mean for the future of American innovation and global competitiveness? How are these policies shaping the delicate balance between national security and free-market ambitions?  The episode also explores the ripple effects on global supply chains, particularly in countries like Japan and Korea, and raises critical questions about the US's energy infrastructure and AI regulation. Meanwhile, at the state level, politicians are fighting against a federal AI regulation pre-emption. And local governments are debating the role of driverless vehicles and AI-powered tools in schools. Tune in to hear the tech policy debates that will shape discussions at the international, domestic, state and local level in the year to come. More S&P Global content: Examining the broader impact of changing chip export controls AI preemption debate reignites concerns over cost, safety Featured experts: Stefan Modrich, tech policy reporter for S&P Global Market Intelligence  Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

In this episode of "MediaTalk," host Mike Reynolds and a panel of Kagan research analysts delve into the M&A whirlwind reshaping the media landscape. With major players like Paramount Skydance, Comcast, Netflix, Nexstar, and Sinclair making bold moves, what does the future hold for traditional and streaming media? The discussion highlights the recent bids for Warner Bros. Discovery, the implications of Nexstar's $6.2 billion offer for TEGNA, and Sinclair's unsolicited bid for E.W. Scripps. As the media industry navigates this transformative phase, the episode explores critical questions: How will these mergers affect content creation and distribution? Will consolidation lead to a more competitive streaming environment or stifle innovation? What challenges might arise in securing regulatory approval for these massive deals? Join us as we explore the potential outcomes of these landmark transactions and their impact on viewers and industry stakeholders alike.    More S&P Global content: The Business of Sports  Moneyball: The impact of sports media rights on the US video market Featured experts: Justin Nielson, head of Kagan Research at S&P Global Market Intelligence. Seth Shafer, principal analyst at S&P Global Market Intelligence Kagan. Scott Robson, principal analyst at S&P Global Market Intelligence Kagan. Michael Johnson, research analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

In this special Thanksgiving edition of "MediaTalk," host Mike Reynolds revisits insightful discussions with four prominent executives in the media industry, each sharing their perspectives on topics ranging from evolving distribution deals, sports rights and AI. The episode features Tom Montemagno from Charter Communications, John Lasker from ESPN, Brad Ramsey from TEGNA, and Mark Penn from Stagwell, offering a blend of strategic insights and industry trends. Tom Montemagno discusses Charter's shift towards a hybrid model that combines traditional linear programming with streaming options. He emphasizes the importance of adapting to customer preferences and the need for transformative deals, particularly highlighting the successful negotiation with Disney/ESPN that allowed for seamless integration of streaming services. John Lasker focuses on ESPN's direct-to-consumer strategy, particularly the launch of the ESPN DTC enhanced app. He underscores the goal of simplifying the content offering for sports fans, making it easier for them to access a comprehensive range of ESPN content through a single subscription, appealing to both traditional viewers and new audiences. Brad Ramsey shares insights into TEGNA's approach to local sports rights, having secured deals with multiple professional sports teams. He notes the resurgence of local broadcasting in sports, driven by changes in the RSN space, and emphasizes the company's commitment to reaching more fans through accessible game coverage. Mark Penn outlines Stagwell's vision as a digital-first marketing network, discussing the integration of advanced technology and AI in marketing strategies. He highlights the company's growth ambitions through both organic growth and strategic acquisitions, while also emphasizing the importance of adaptability in a rapidly changing marketing landscape. This episode reflects on the challenges and opportunities that defined this year's media environment . More S&P Global content: MediaTalk | Season 3 | Ep. 45 - How TEGNA Tailors Sports Rights Deals Across Leagues, Markets for Maximum Reach MediaTalk | Season 3 | Ep. 34 - How ESPN Aims to Change the Game with New Streaming App MediaTalk | Season 3 | Ep. 28 - Stagwell CEO Mark Penn Talks The Future of Marketing Amid AI Revolution MediaTalk | Season 3 | Ep. 25 - Charter's Gambit to Revive Linear Pay TV with Seamless Streaming Strategy Featured experts: Tom Montemagno, Executive Vice President of Programming Acquisition at Charter Communications John Lasker, Senior Vice President of ESPN DTC Brad Ramsey, Senior Vice President and Head of Sports Rights for TEGNA Mark Penn, Chairman and CEO of Stagwell Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

The latest episode of "MediaTalk" explores the fall and winter box office landscape, including the lukewarm fall season, which narrowly missed the $1 billion mark. Despite strong performances from "The Conjuring: Last Rites" and "Demon Slayer," the fall season struggled due to several underperforming films and postponed releases like the "Mortal Kombat" sequel. The episode also explores the impact of streaming strategies on box office performance. Films like "KPop Demon Hunters" have thrived due to repeat viewings on platforms like Netflix, showcasing the evolving dynamics between theatrical releases and streaming services. The conversation shifts to the winter season, highlighting potential blockbusters like "Wicked: For Good," "Zootopia 2," and the third installment of "Avatar." Expectations are high for "Wicked: For Good," with record-breaking pre-sales and extensive cross-promotional campaigns. Meanwhile, "Zootopia 2" and the upcoming "Avatar" film are also poised to drive significant box office revenue.   More S&P Global content: MediaTalk | Season 2 EP 14 - The Summer Box Office Begins - https://www.spglobal.com/marketintelligence/en/news-insights/podcasts/mediatalk-s2-ep-14 Featured experts: Wade Holden, senior research analyst at S&P Global Market Intelligence Kagan Mac Mathews, associate director of editorial, design and publishing at S&P Global Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James

"MediaTalk" host Mike Reynolds delves into the dynamics of holiday spending for 2025, featuring insights from industry experts Zach Ciampa of 451 Research and Brian Scheid from Market Intelligence. As the holiday season approaches, what trends are emerging in consumer behavior? With an average spending forecast of $890.49 per person in the US, how will inflation and economic uncertainties shape this year's shopping habits? Zach shares findings from 451's recent surveys, revealing a notable shift towards online shopping, where 50% of consumers plan to make their purchases digitally. Are consumers prioritizing convenience over traditional in-store experiences? Meanwhile, Brian highlights the complexities of inflation and the potential impact of tariffs on consumer spending. With the Fed's target for inflation set at 2%, how will rising costs affect holiday budgets? As businesses prepare for the holiday rush, how can they adapt their strategies to meet evolving consumer expectations? Will AI-generated content enhance or hinder brand engagement this season? The episode also explores the ongoing debate around the use of AI in advertising — do consumers prefer authentic, human-driven marketing, or are they open to AI-generated content? Join us as we unpack these pressing questions and more.   More S&P Global content: Generative AI shows rapid growth but yields mixed results Featured experts: Zach Ciampa - analyst at S&P Global Market Intelligence 451 Research Brian Scheid - senior reporter on global markets at S&P Global Market Intelligence Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds sits down with Brad Ramsey, senior vice president of media operations at TEGNA, about the increasingly important role that broadcasters are playing in delivering local sports programming to fans. TEGNA has secured local rights deals with 14 NBA, NHL, MLB, and WNBA teams, marking a significant shift in the sports broadcasting landscape. Ramsey emphasizes that the company's varied agreements, which include full season rights and targeted game packages, allow TEGNA to reach a broader audience, offering value to viewers and advertisers alike.  The conversation highlights the transformation of the regional sports network (RSN) space, especially following Diamond Sports' bankruptcy. Ramsey notes that local broadcasts have significantly outperformed previous RSN audiences, showcasing the effectiveness of their strategy. Listeners will find themselves contemplating critical questions: How are local broadcasters redefining sports viewership in a digital age? What does the future hold for sports rights as teams explore new partnerships? And how can advertisers leverage the resurgence of local sports broadcasting to maximize their reach? Tune in to discover how TEGNA and other broadcasters are reshaping the sports media landscape to make something long considered old new again. More S&P Global content: MediaTalk | Season 3 | Ep. 43 - Navigating the New NBA and WNBA Media Landscape Social media followers for top professional sports teams, May 2025 Featured experts: Brad Ramsey, Senior Vice President and Head of Sports Rights for TEGNA Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

The latest episode of "MediaTalk" delves into the dynamic landscape of mobile and broadband markets in the Americas with Kagan analysts John Fletcher, Lynette Luna, Tomás Sarmiento and Bruno do Amaral. As they explore the mobile markets, intriguing questions arise: How does the mobile penetration rate exceed 100% with a billion phones for 880 million people in the Americas? Why is Peru emerging as the fastest-growing market? The discussion highlights the contrasting growth patterns between the US and Latin America. While the US leads in revenue and ARPU, Latin America's prepaid market, particularly in Mexico, dominates with 83% of the market. Bruno Do Amaral sheds light on the potential shift from prepaid to postpaid, especially in Brazil. Will this trend reshape the market dynamics? The analysts also tackle the burgeoning 5G landscape. Despite its presence in countries like Brazil and Mexico, 5G adoption is slower than anticipated. Could upcoming spectrum auctions accelerate its growth? Turning to broadband, John Fletcher emphasizes the US' unique reliance on cable due to historical early adoption. With fixed wireless gaining traction, could this be the key to achieving near-complete broadband penetration in the US by 2031? Meanwhile, Tomás Sarmiento points out the rapid fiber adoption in Latin America, driven by small and mid-sized ISPs. How will this affect future market dynamics? As the episode concludes, each analyst shares their focus for the upcoming years, from spectrum challenges in the US to the evolving operator landscape in Latin America. With the potential for broadband price wars and increased convergence in services, what lies ahead for the telecom industry in the Americas? More S&P Global content: Technology, Media, & Telecoms Fixed wireless subscribers by state  Featured experts: Lynnette Luna, senior research analyst at S&P Global Market Intelligence Kagan. John Fletcher, principal research analyst at S&P Global Market Intelligence Kagan. Tomás Sarmiento, research analyst at S&P Global Market Intelligence Kagan. Bruno do Amaral, research analyst at S&P Global Market Intelligence Kagan. Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

As the NBA kicks off its 2025-2026 season, significant changes in media rights and distribution strategies are reshaping how fans engage with the league. This episode of "MediaTalk" discusses the implications of the new NBA national rights deals, including the return of NBC Sports and the entry of Amazon Prime Video. How will these shifts impact viewership and fan engagement? Will streaming platforms help the league reach audiences that are either younger or more international in scope? The episode also explores the WNBA's evolving media landscape, with record attendance and ratings alongside a substantial increase in rights fees. With the collective bargaining agreement ending later this month, what does the future hold for player salaries and league profitability? How does the rise of the 3-on-3 league Unrivaled impact the power balance between players and the league? Join "MediaTalk" host Mike Reynolds and a panel of S&P Global Market Intelligence Kagan analysts as they discuss the challenges and opportunities facing both leagues in this dynamic media environment. More S&P Global content: The Business of Sports  Moneyball: The impact of sports media rights on the US video market Featured experts: Justin Nielson, principal analyst at S&P Global Market Intelligence Kagan. Scott Robson, principal analyst at S&P Global Market Intelligence Kagan. Michael Johnson, research analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" explores the growing importance of sports investments, which have evolved from vanity purchases to a legitimate asset class. Record-breaking transactions in leagues like the NBA and NFL underscore this transformation. A key focus is why sports teams are considered a durable asset class that will hold their value and continue to grow not just for the next five or 10 or 20 years, but possibly for the next 100. Unlike other investments, sports teams enjoy inelastic demand—fans remain loyal regardless of team performance, ensuring steady revenue. These unique characteristics make sports teams more attractive than even Big Tech stocks, which may not guarantee the same long-term stability and loyalty. The episode emphasizes the unparalleled ability of sports to captivate audiences, as seen with events like the Paris Olympics and the World Cup. This enduring appeal solidifies sports teams as valuable investments. The podcast also explores the role of US investors in global sports investments, especially in European soccer clubs. Over half of the Premier League teams have American owners, highlighting a strong US presence in the UK soccer scene. The conversation shifts to the impact of social media and technology. Social media enhances fan engagement and drives sponsorship values, while the sports technology sector sees growth in areas like sports analytics and collectibles. Finally, the episode touches on the burgeoning interest in women's sports, with rapid growth in valuations for women's sports teams. As the episode concludes, the guests discuss whether the sports investment market is in a bubble. While some believe it is, others see it as a period of price discovery, with valuations likely to rise before stabilizing. More S&P Global content: Scoring Profits: The Dual Benefits of Investing in Sports Featured experts: Iuri Struta, senior reporter at S&P Global Market Intelligence  Richard Berndes, associate media analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"Media Talk" host Mike Reynolds is joined by Justin Nielson, principal analyst at S&P Global Market Intelligence Kagan, to discuss the opportunities and challenges faced by TV and radio broadcasters in 2025. Radio is experiencing a bifurcation, with traditional ad revenues declining while podcasting and streaming drive growth. Nielson emphasizes that radio remains a local medium, fostering community relationships, but faces pressure from national advertisers shifting budgets towards platforms like Spotify and SiriusXM. While certain sectors, including healthcare and professional services, are thriving, others like retail and automotive are struggling due to economic pressures. On the television side, the outlook for 2025 appears challenging, particularly in an odd year without major events like the Summer Olympics or a presidential election. Additionally, the podcast discusses the M&A landscape, noting that the TV sector faces duopoly and national ownership cap rules that could impact transactions. Recent deals, namely Nexstar's potential purchase of TEGNA, will test the current limits. The podcast also explores the impact of technological advancements, including AI and the transition to ATSC 3.0, which promises new revenue opportunities but faces hurdles in consumer adoption. Overall, while both radio and TV navigate a complex environment marked by digital competition and economic uncertainty, there are still promising avenues for growth, particularly at the local level, alongside an evolving M&A landscape that could reshape the industry. More S&P Global content: Technology, Media, & Telecoms Featured experts: Justin Nielson, principal analyst at S&P Global Market Intelligence Kagan. Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

In the latest episode of "MediaTalk," host Mike Reynolds and S&P Global Market Intelligence Kagan analyst Neil Barbour discuss the implications of Electronic Arts' $57 billion going-private deal. Notably, while the multiples on this deal rival those of  Microsoft's purchase of Activision Blizzard in 2021, the industry is in a very different phase of growth.  The conversation also looks at the current M&A landscape, delving into why the the anticipated wave of consolidation failed to materialize after Microsoft's Activision Blizzard deal. Will  regulatory hurdles and a cautious market environment continue to stifle potential deals? The health of the video game market raises further questions. With Microsoft reporting a rise in content revenue from previously Xbox-exclusive titles now available on PlayStation, can this momentum be sustained? How will Nintendo navigate software sales following its Switch 2 hardware launch? And what factors are driving Roblox's impressive user engagement, especially around titles such as Steal a Brainrot and Grow a Garden?  This episode prompts listeners to consider the future of the gaming industry and the potential paths for major players, asking what strategies companies should adopt to stay competitive in an increasingly dynamic market. More S&P Global content: Video game industry sheds jobs to protect margins MediaTalk | Season 3 | Ep. 22 - Gaming Outlook Complicated by GTA Delay, Metaverse Momentum Featured experts: Neil Barbour, S&P Global Market Intelligence Kagan analyst Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence

"MediaTalk" host Mike Reynolds and S&P Global Market Intelligence Kagan analyst Michael Johnson recently returned from Front Office Sports' "Tuned In" conference in Manhattan, where media and league executives talked about the rapidly evolving landscape of sports media.  One of the key highlights was the MLB's new rights agreements, which have not been formally announced. They are expected to include NBC securing Sunday night games, ESPN handling local rights, and Netflix stepping in for the Home Run Derby. This diversification of platforms underscores the strategic pivot towards streaming services, aiming to capture a wider audience and cater to changing viewer preferences. The NBA is also making strides, with NBA Commissioner Adam Silver discussing potential expansions into Europe, supported by heavyweights like JP Morgan and the Raine Group. This not only signifies the NBA's global ambitions but also highlights the importance of regulatory navigation and infrastructure development in international markets. Amazon's entry into the Masters golf tournament further illustrates the growing influence of streaming giants in traditional sports broadcasting. With their robust sports portfolio, Amazon is positioning itself as a formidable player, potentially eyeing future marquee events like the Super Bowl. These developments are complemented by NBC's ambitious plans to provide 50 weeks of live Sunday night sports annually. Such initiatives reflect the increasing importance of sports in the broadcasting realm, as networks strive to maintain relevance and viewer engagement in a competitive market. More S&P Global content: The Business of Sports  Moneyball: The impact of sports media rights on the US video market Featured experts: Michael Johnson, research analyst at S&P Global Market Intelligence Kagan Credits: Host/Author: Mike Reynolds Producer/Editor: Sarah James www.spglobal.com www.spglobal.com/market-intelligence