26 Nov Reach vs. Profits: Streaming Black Friday Deals Suggest Entertainment Giants Still Split on Strategy [The Hollywood Reporter]
By Alex Werpin
November 26, 2025| It’s a tale as old as time — or at least as old as the streaming wars: Should the entertainment business be focused on reach and mass scale? Or should they focus on profitability, to bring back an economic model a bit closer to the glory days of cable TV?
On corporate earnings calls across the sector, executives have been touting their streaming profits and planning, envious of Netflix‘s margins, which hover in the mid 20 to low 30 percent range.
“The way we’re going to get there is through revenue growth and through driving operating leverage through the business,” Disney CFO Hugh Johnston told Wall Street analysts Nov. 13. “We didn’t give a specific revenue guide, but our objective and our aspiration is very much to be growing the top line of that business by double digits, as we did on an apples-to-apples basis in Q4. That’s what we’re looking to do going forward is to grow the top line double digits.”
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