We’re pleased to welcome Antenna’s VP, Strategy Brendan Brady back to Inside the Stream for an exclusive interview about the firm’s new State of Subscriptions research focused on specialty SVOD services. 

Antenna’s research found that specialty SVOD (streaming services targeted to specific audiences and focused on content niches) continue to thrive, with 1.8 million net subscriber additions in Q2 ’26. Specialty SVOD’s growth is outpacing the broader SVOD category. Howdy (owned by Roku) and Wonder Project have emerged as particular specialty SVOD winners.

Amazon Channels plays a dominant role in specialty SVOD, accounting for 67% of net subscriber additions in Q2. As Brendan explains, Amazon Channels is the de facto “front door” to specialty SVOD sign-ups. While Roku and YouTube Primetime Channels have made some inroads, they are still far back. We also discuss whether there’s a play for Disney and Netflix in this space. 

As we move into the final part of 2026, and the all-important holiday season, Brendan says YouTube is worth watching closely, to see if it can leverage its massive user base to become a meaningful player in specialty SVOD distribution.

Listen on to learn more (31 minutes, 38 seconds)

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Tubi’s latest results, including key engagement metrics, suggest it is firing on all cylinders, validating its place as a winner in the evolving FAST space. Meanwhile, YouTube is upping its game, both by pursuing a major design/UI overhaul, and also by raising the minimum threshold for creators to earn money on the platform. 

We discuss all, as well as implications for the broader streaming industry. 

Listen on to learn more (31 minutes, 7 seconds)!

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Warner Bros. Discovery reported its Q2 ’26 earnings this week, revealing continued healthy growth in its Streaming segment, but significant declines in revenue and earnings in both its Studios and Global Linear Networks segments. 

As we discuss, the new report further illustrates how WBD’s value continues to slide compared to February, 2026 when the Paramount deal was announced. As such, lenders and equity contributors to the deal should be re-evaluating their participation and terms with a fresh set of eyes. 

Further, in light of a trial that won’t even start until March, 2027, Larry Ellison, who has by far the biggest financial exposure on the deal, would benefit from reconsidering whether this deal, particularly on its current terms, is still worth pursuing. We reiterate that we see no better than a 25%-30% chance the deal will actually close. 

We then turn our attention to Disney, which struck a partnership with TikTok this week and appears to be considering launching some type of free streaming service. We discuss the merits of both of these moves. 

Listen on to learn more (33 minutes, 9 seconds)

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Peacock Premium will be bundled with and integrated into YouTube Premium beginning in 2027. The deal is intriguing to Colin and me for a variety of reasons. As we discuss, we’re particularly interested in the cannibalization risk to Peacock, along with how the economics of the deal work, including the upside potential for Peacock. 

Then we shift to explaining why believe there’s no better than a 25%-30% chance that the Paramount-Warner Bros. Discovery deal will ever close. Last week’s decision to delay the closing well into 2027, subsequent to an antitrust trial, will, in time starkly reveal the declining value of Warner Bros. Discovery, making the already stretched acquisition price even harder to justify. 

Coupled with the particular economics of the deal, we believe there are powerful incentives for Larry Ellison to pay the breakup fee and walk away. 

Listen on to learn more (32 minutes, 53 seconds)

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