Paramount Global (PARA) faces threat from declining ad revenues in the previous as well as upcoming quarters.
Amazon (AMZN) inks a deal with Warner Bros. Discovery to reintroduce HBO Max to Prime Video.
Sarandos said the economics of professional sports were built around the economics of television - and buying rights is expensive. "We've not seen a profit path to renting big sports today," Sarandos told the UBS Global TMT conference. Rival streaming services Apple TV+ and Amazon Prime Video have added live professional sports competitions, acquiring rights to major league soccer and the NFL's Thursday night games, respectively.