The news: Rewards app Fetch and measurement platform Kochava teamed up to offer loyalty rewards to streaming users, per Marketing Brew. Loyalty+ users can earn points from streaming movies or series, watching specific episodes, or downloading streaming apps. Video on demand (SVOD) services can offer incentives based on their chosen KPIs. Our take: Little treats from big streamers can add up and boost loyalty, provided the incentives are worthwhile and requirements aren’t burdensome. Watching TV for several hours for a fraction of a Starbucks drink, for example, won’t likely improve platform stickiness.

Netflix advertising chief Amy Reinhard claimed the streaming service has 190 million monthly active viewers (MAV) worldwide—a new advertising metric the company shared after it stopped reporting subscription numbers earlier this year. Netflix wants to help advertisers more clearly understand an ad’s potential reach and ROI. Low churn, high-value content, and maturing ad offerings means Netflix will be an attractive option for brands for years to come—but the picture is about to get more complicated.

To counter complaints about its proposed Warner Bros. purchase, Netflix co-CEO Ted Sarandos has pointed to what he says is the company’s biggest competitor: YouTube. Netflix’s contention that YouTube is its biggest competitor is defensible, but key differences exist between the platforms that opponents could use to swing back. Ultimately, it may come down to a court ruling—and recent antitrust cases suggest judges may side with Netflix.

Warner Bros. Discovery has entered a pivotal stage in its takeover fight, with Netflix, Comcast, and Paramount Skydance submitting second-round bids and political forces shaping the odds. Comcast is preparing an offer near $27–$28 per share for WBD’s studio and streaming divisions—topping Paramount’s $25-per-share bid—while WBD CEO David Zaslav reportedly wants something closer to $30. Netflix faces new White House antitrust concerns, Comcast faces political hostility, and Paramount Skydance holds the most favorable political backing. The stakes are massive: whichever buyer prevails will redefine the balance of power across premium streaming, theatrical franchises, and high-value CTV inventory.

Netflix, Comcast, and Paramount have all submitted acquisition bids for some or all of Warner Bros. Discovery (WBD), sources told Deadline, starting a bidding war that would fundamentally reshape the media landscape. Regardless of the outcome, a restructuring of WBD will impact marketers by unlocking the ability to increase audience reach, run integrated campaigns across premium properties, and simplify media buying.

Paramount has taken its $30-per-share WBD offer directly to shareholders, launching a $108.4 billion hostile tender backed by sovereign funds and major banks. The move intensifies its battle with Netflix, whose smaller bid would spin off WBD’s cable networks and merge HBO Max with Netflix’s global platform. Paramount argues that its fully consolidated approach preserves ecosystem value, avoids heavy antitrust scrutiny, and protects theatrical output, while Netflix’s deal would concentrate subscription and premium-video power. For marketers, the stakes are substantial: a Netflix acquisition could limit ad-supported supply and raise prices, while a Paramount deal maintains competition, inventory diversity, and greater planning clarity.

Netflix and iHeartMedia are discussing a deal that would allow the popular streaming platform to license iHeartMedia’s video podcasts, shortly after Netflix inked a similar deal with Spotify, per Bloomberg. An expanded video podcast portfolio will unlock new opportunities for marketers if Netflix chooses to sell ad space on podcast content.

On today’s podcast episode, we discuss the big 3 questions surrounding Netflix in Q3 and beyond: expectations for its ad business, the impact of Netflix House, a new deal with Spotify, or something else? Join Senior Director of Podcasts and host, Marcus Johnson, Senior Analyst, Ross Benes, and Senior Editor of Briefings, Daniel Konstantinovic. Listen everywhere and watch on YouTube and Spotify.

Netflix is reportedly exploring an acquisition of Warner Bros. Discovery (WBD)’s studio and streaming operations—its boldest move yet to consolidate the streaming market. The deal would include HBO, Warner Bros. Pictures, and HBO Max but exclude cable properties. For Netflix, the acquisition would supercharge its ad-supported tier with premium, long-tail content, expanding both viewership and inventory. The potential combination of HBO’s prestige programming and Netflix’s data-driven ad platform could redefine connected TV advertising, pressuring rivals like Disney+ and Peacock. If successful, the merger would mark streaming’s biggest consolidation since Amazon’s MGM purchase—and a new era for premium video.