Hot List: World Cup Runneth Over

Data & MeasurementAdvertising
Written By Jason Damata

2026 FIFA World Cup estimates more than 3.6 billion fans in viewership on TV have also generated over 20 billion video views on social platforms

We spend so much time consuming information about the changing business models in TV, that it’s easy to lose touch with the best part about the medium: At its core, television gives us a way to experience culture together, in real-time.

When hundreds of millions of people tune in to watch the same people chase the same ball, something else happens— there is an experience that crosses borders and gives us the chance to feel something together.

During times of war, tariffs and great upheaval, this World Cup in particular—with all the hilarious side bar fan activity on social, is giving America the chance to remind the world we are actually a kind, fun-loving and welcoming people—while also giving our populace a chance to see, despite our cultural differences, just how similar we humans all are.

We explore World Cup, and America through a few different lenses this week. Thanks for being here.

Plus, the market Roku cracked open and lead into a $5B+ ARR business is changing fast and the heft of FOX on top of its platform and assets could force another deep transformation of the marketplace. So big pay days for the early birds over there plus a fun next chapter.

But what do I know, I had Meta on the bingo card.

More on this to come….

If you’re at StreamTV this week, come to the 8th annual TVREV track tomorrow afternoon. And if you’re in Cannes, let us know. Meantime, enjoy the originals this week, below.

Cheers!

Damata

Walmart’s Amazon-Sized Ads Opportunity [The Information]

TL;DR: Walmart's ad revenue hit nearly $6.4 billion in fiscal 2026, growing 37% in Q1, with the acquisition of VIZIO credited with doubling the company's ad growth rate from ~29% to ~50%. CFO John David Rainey has said Walmart can "easily" double its current ad revenue to reach best-in-class advertising as a percentage of GMV, with its marketplace business — which grew nearly 50% last quarter — acting as a key growth driver. Recent acquisitions including VIZIO and Vibe.co are expanding Walmart's advertiser base beyond traditional retail vendors to include categories like insurance and automotive, as Walmart pushes further into CTV

The smart TV data and platform war reshaping the TV OS market [Omdia]

TL;DR: The smart TV market is shifting from a hardware-focused business to a platform and data war, as retail and media giants — including Walmart (via VIZIO) and Fox (via Roku) — take control of CTV ecosystems to access advertising revenue and consumer data. Traditional TV manufacturers like Samsung and LG are responding by pivoting their leadership and doubling down on OS expansion strategies, while Chinese manufacturers continue to pressure margins by capturing global volume share with lower-priced hardware.

Netflix Is Exploring Live TV and Bundles as It Struggles to Keep Viewers Hooked [The Wall Street Journal]

TL;DR: Netflix's spring business review flagged declining subscriber engagement — how long and how often people watch — as a growing concern, even as the company remains the streaming industry leader. In response, executives are exploring adding live linear channels, bundling third-party services like Peacock, incorporating short-form video from publishers like BuzzFeed and Condé Nast, and pursuing select live sports rights including potential bids for the 2030 and 2034 World Cups. Netflix shares are down more than 40% over the past 12 months, with its TV viewership share falling to 7.8% in April — its lowest level since May 2025 — as free ad-supported platforms like Tubi and The Roku Channel gain ground.

The $80 Billion Debt Cloud Hanging Over David Ellison’s Warner Deal [The Wall Street Journal]

TL;DR: The combined Paramount-WBD entity is set to emerge with nearly $80 billion in debt — roughly 6.5x annual EBITDA — a level analysts at MoffettNathanson have called "staggering" and one that could constrain decisions on content spending, streaming investment, sports rights, and news operations. Moody's has estimated it will take at least five years for the combined streaming business to reach earnings comparable to the scale of its legacy TV media operations, leaving Ellison's plan with little room for error.

VAB: Streaming App Use Increased 7% in Q4 2025, Led by Ad-Supported Tiers [Media Play News]

TL;DR: According to new VAB data citing Samsung Ads' State of CTV 2026 report, overall streaming app usage grew 7% in Q4 2025 versus the prior year, driven entirely by ad-supported tiers, which surged 24%, while ad-free SVOD usage declined 26% in the same period. More than 200 million people now use ad-supported streaming services, with 81% saying watching ads is a fair trade for free content, and legacy broadcast TV still leading total ad market share at 47%, followed by cable at 35% and streaming at 18%.

ICYMI

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Jason Damata

Jason is the founder and CEO of Fabric Media, a media incubator and talent consortium. The company serves leading-edge TV disruptors- from data and analytics platforms to TV networks to emotional measurement companies. Damata has traveled the country for C-SPAN, where he worked with MSOs, produced educational political programming. He has served as CMO of Bebo when it was the world's 3rd largest social network, led marketing for Trendrr until it was acquired by Twitter and helped build the world's largest LIVE broadcast offering at explore.org where he built up a global syndication network. He is an analyst for companies on the edge of TV innovation such as iSpot, Inscape, Canvs, TNT and more.

http://linkedin.com/in/jasondamata
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