What media dealmakers are watching
As TV consumption shifts further towards streaming, we expect opportunities will emerge for media dealmakers to capitalize on this market disruption.
In Q2'24, media deal value jumped 141 percent to $27.2 billion. As viewing habits change, consolidation of streaming services and traditional television (TV) providers is expected to continue, although a major surge in M&A activity may not come until 2025 due to lingering economic and political uncertainty.
The changing face of TV includes:
- Streaming now accounts for 40.3 percent of all TV viewing time, surpassing cable (27.2 percent) and broadcast TV (20.5 percent).
- The number of streaming services has multiplied, with Nielsen tracking 14 individually in 2024, up from just five in 2021.
- Driven by younger viewers, streaming services continue to invest in original content, creating buzz and attracting audiences.
- Live sports are becoming a key differentiator, with soaring costs for broadcasting rights as streaming services spark bidding wars.
The fragmentation of the TV market presents various M&A opportunities for media companies and private equity (PE) firms. The most likely transactions will revolve around streaming consolidation, regional strategies, vertical integration, digital transformation, international expansion, portfolio optimization, and strategic partnerships.
Media companies will focus on realigning their content portfolio to maximize growth prospects, while PE firms may acquire mature businesses with upside potential. As media consumption patterns shift, there are opportunities to capture value by anticipating trends and moving faster to monetize them.
Download our paper, What media dealmakers are watching, to learn more about succeeding in today's media M&A market and how KPMG can help you make the difference in your M&A journey.
Dive into our thinking:
What media dealmakers are watching
Discover insights on the evolving TV industry landscape, as streaming takes center stage. Explore various M&A strategies to seize emerging potential and stay ahead in this dynamic market.
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