Madison and Wall Podcast Ep. 63: Netflix-WBD, Consumer Video Spending Trends + Omnicom's IPG Integration News
Dec 5, 2025
The hosts dive into Netflix's ambitious bid for Warner Bros. Discovery, unpacking regulatory hurdles and political implications. They explore the dynamics of potential streaming bundles and consumer spending trends, showing a modest growth in video expenditures. Discussion shifts to Omnicom's integration of Interpublic, highlighting leadership challenges and talent risks. The interplay of inflation data and economic signals rounds out their commentary, offering insights on future rate cuts and industry expectations.
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Deal Is An Agreement, Not A Done Deal
- The Netflix–Warner deal is far from done despite an agreement being announced.
- Political and regulatory dynamics will likely decide its fate more than pure business logic.
Bundle Risk Spurs Ad Tier Opportunity
- Combining Netflix and HBO could push subscription prices much higher and test consumer tolerance.
- Ad-supported tiers might be the pragmatic bridge to build a larger ad business during a gradual price transition.
Video Spending Still Grows Slowly
- Total consumer spending on video grows in low single digits despite streaming momentum.
- Large pay-TV spend still exists, leaving substantial wallet share to shift into streaming over time.