Observed Signal · Nov 14, 2025 · Earnings Report · Source: AdExchanger · Impact: 4/5 · Sentiment: Negative

TV Ad Trends: Streaming Surges as Linear Declines

Executive Signal Summary

An analysis of Q3 earnings in TV and connected TV (CTV) advertising notes continued pressure on linear TV margins, even as streaming revenue helps offset declines. The piece highlights double-digit declines in linear TV and specific year-over-year drops for major players—Paramount Skydance (-12%), Warner Bros. Discovery (-22%), and Disney (-16% in linear network revenue; -12% for 2025 overall). It discusses a shift toward streaming-first strategies, with growing ad-supported tiers and Disney building an in-house ad server powering Disney+, Hulu, and ESPN-related services. It also references sports distribution decisions across Peacock, Paramount+, Fox One, and TNT, and notes Fox One’s launch and Tubi profitability. The article frames consolidation of ad tech stacks and cross-platform sports strategies as critical factors shaping advertiser spend, serving as a preview for AdExchanger’s end-of-year coverage.

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Primary Reporting: AdExchanger•Published: Nov 14, 2025
Original Coverage Title: “What The TV Industry’s Q3 Earnings Tell Us About This Year’s Biggest Ad Trends”

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