Legacy Media Companies Need New Streaming Plans: LightShed

Legacy media companies continue to wrongly focus on eliminating streaming platform financial losses and shoring up balance sheets rather than growing robust and profitable long-term streaming businesses, research firm LightShed blogged Tuesday. It said Peacock "continues to be a horrible use of capital by Comcast." Instead, it should be shut, merged into Starz or made into a digital version of the NBC network, LightShed said. In addition, Disney should drop plans for allowing ESPN to go directly to consumers and shift key ESPN+ content to a combined Disney+/Hulu platform, it said. This would be a better use of Disney's streaming investment and management resources. Likewise, Paramount+ is unlikely to recoup billions already spent, so Paramount Global should unwind its integration with Showtime, move exclusive sports content back to linear TV, license high-profile originals and close overseas launches, it added. Moreover, Warner Bros. Discovery should undo the Discovery+/HBO integration, rebrand Max to HBO, abandon global plans for Max and focus on licensing HBO content internationally. It recommended keeping Discovery+ as a niche streaming service.