MediaTalk

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