The Town with Matthew Belloni YouTube’s NFL Debut, A Surprise Box-Office Hit at the Sphere, and Warner Bros. Merger Candidates
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Sep 8, 2025 
Lucas Shaw, a Bloomberg reporter specializing in the entertainment industry, joins to discuss the thrilling debut of YouTube's NFL coverage, which captivated 17 million viewers. The pair dives into the surprising box-office success of 'The Wizard of Oz' at The Sphere in Las Vegas and imagines its future as a cinematic venue. They also analyze John Malone's efforts to find a new home for Warner Bros. Discovery, highlighting David Ellison's potential role. A lively conversation around media mergers and evolving viewer engagement ensues!
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YouTube's NFL Debut Is A Solid First Step
- YouTube's first exclusive NFL broadcast drew a strong audience and felt like a successful first step for streaming sports on new platforms.
- Lucas Shaw and Matt Belloni note the number (17.3M) was solid but not astronomical and represents a win for YouTube and the NFL.
Ratings Measurement Remains A Mess
- Nielsen's changing measurement system is creating tension as partners question revised ratings and seek numbers that favor them.
- Shaw and Belloni argue the industry lacks a universally trusted third-party measurement that captures all viewing consistently.
Early Sphere Numbers Look Huge But May Fizzle
- The Sphere's Wizard of Oz adaptation sold out early shows at up to $200 a ticket and reportedly grossed about $2 million a day.
- Matt Belloni and Lucas Shaw visited the venue and praised the technology while cautioning against extrapolating two-week results into long-term projections.