2026年媒体与娱乐行业预测报告

2026 Media &Entertainment Industry In each of our first two annual AlixPartners Media &Entertainment Industry PredictionsReports, we wrotethat Make it three out of three. The streaming industry continues tograpple with structuralchallengesastelevisionsearches for along-termsuccessor to thecable model. Platforms with disparatestrategies are starting toconvergeinto one-stop shops forshort-form,long-form,live,and creator content,withYouTubeandNetflix ahead. AI’sunprecedented rise has upended the Jeff GoldsteinPartner & ManagingDirector Grace LeePartner & ManagingDirector Theseswirling forcescombine to make ourannualPredictions Report a funchallenge.Butthat’spart of theintrigue—studying the market to anticipatewhat willhappennextin an industry marked byunpredictability. We’llkeep Mark EndemañoPartner & Managing Our third annual AlixPartnersMedia & EntertainmentReport is split across the 01 | Streaming wars 2026: The rise of In 2026, we predict increased cooperation and consolidationbetween streamers and broadcasters. Dozens will announcenew deals as they team up, exchange content, and embrace 02 | Opposites attract: How YouTube andNetflix are learning from each other to 04 | AI + IP: The catalyst for gamingcompany valuations in 2026 By the end of 2026, gaming companies that successfullyintegrate AI into strong IP will command valuation multiples2-3x higher than AI-laggard peers—a bifurcation driven by deeper In 2026, we predict YouTube and Netflix will converge morethan ever before as each vies to be the platform of choice forshort-form creator content, serialized and episodic content,premium long-form entertainment, and live content. YouTube,the ad-revenue giant, will offer more Netflix-style contentexperiences to boost its subscriber base, while Netflix will 05 | Media M&A in 2026: Dealmaking in the In 2026, we predict more than $80 billion in media M&A dealvalue, with sustained increased volume across all quarters. Thiswill be driven by a broader resurgence in M&A activity acrosslarge and small deals as media companies adjust to a new 03 | Agents, answers, and AI:The global search reset Blue links give way to AI answers:Search will increasinglycenter around AI-generated summaries, dynamic answers, andresults that mix regular content with paid placements, with realvalue coming from citations inside answers. GEO, 06 | Private capital in media: From contentownership to content interaction From chatbots to search agents:Search is transitioning frombasic bots to fully context-aware agents that can recommend,compare, and transact—all within the platform experienceitself. These agents will integrate discovery, action, andseamless monetization into a single point of interaction. We expect private equity and growth investors to focuson three areas of opportunity: 1.Enabling infrastructure that powers interaction-led growth 2.“Buy-and-build" in creative tooling, monetization,and ad-tech infrastructure 3.Co-financing and/or partnerships in IP/distributionplatforms 01 | Streaming wars 2026 The rise of the “frenemy“ AUTHORS OF THIS CHAPTER Jeff Goldstein, MarkEndemaño, Julia Windsor, Lexie Perrotta, Katarina Milen 01 | Streaming wars 2026: The rise of the “frenemy“ For the third year in a row, we begin our annual Media & EntertainmentIndustry PredictionsReport by diving into the streaming wars. Whatbegan as a race for subscribers has evolved into a multifaceted battle forviewer attention and engagement. Theglobal subscription over-the-top(OTT) market will surpass$165 billion in 2026,per Ampere Analysis. Butwith roughly 130 streamingcompanies chasing the same foundational In 2026, we predict increasedcooperation and consolidationbetween streamers andbroadcasters. Dozens willannounce new deals as they The global streamingmarketis showing clear signs Over the past few years, leading streamers have constantlyexperimented as they adapt to a maturing market andincreased pressure to sustain a profit. Almost all have leanedinto hybrid advertising-subscription models, to broaden Global OTT subscription growth rates will cool tojust 5% in 2026 according to AmpereAnalysis anddrop below 2% by 2030 as consumers becomemore selective and price sensitive. Majorplatforms This shift has also led to a change in content programmingand licensing. To attract advertisers, players are increasinglyinvesting in live sports, dramas with broad appeal, and The 3 C’s: Competition, consolidation, In 2026, we predict intensifyingcompetitionas the fight forengagement continues to stretch across formats—long-form vs.short-form creative content, advertising-supported video on demand As we discuss later in this report, we expect an uptick in media M&Aactivity in 2026. The expectedconsolidationacross the market willreduce the number of players in the space, which we are alreadyseeing with RTL’s acquisition of Sky Deutschland and Disney’sphasing out of the standalone Hulu app to migrate its content to Disney+ by 2026. F