The future of streaming after boardroom shake-ups

In recent months, a wave of leadership changes has swept through major entertainment companies. The recent leadership shift at Disney adds to the impact of Paramount’s acquisition of Warner Bros. The latest shake-up at the top has come at Apple. Meanwhile, Netflix founder and chairman Reed Hastings has announced his definitive departure, although in this case, the transition was already underway. In Spain, Movistar is also undergoing changes in its television division. How will this upheaval affect the future of their respective platforms?

Apple TV: In search of competitiveness

Apple has appointed John Ternus as CEO. He replaces Tim Cook, who becomes executive chairman. The change will be effective September 1. For the tech giant, its television platform is a secondary focus and doesn’t appear likely to undergo major changes, at least not immediately. Ternus is a Formula 1 fan, and in fact, last fall, Apple TV signed a deal to broadcast Formula 1 in the U.S. for the next five years. Deadline also reported that Ternus has a good relationship with Eddy Cue, Apple’s senior vice president of services and the person in charge of overseeing the platform. Citing internal sources, the outlet added that the new CEO wants the streaming service to be “more competitive,” without specifying how.

Ternus’s background as the head of hardware suggests he will continue to focus on Apple’s core strength: its devices. The platform, launched in 2019, does not yet appear to be profitable. That said, it has built up a catalogue of critically acclaimed series and some major commercial hits such as Ted Lasso (returning on August 5). Apple does not disclose subscriber figures, but the latest estimate puts the total at around 45 million worldwide — a figure Cue says has long since been surpassed.

According to consultancy Antenna, Apple TV averaged 2.1 million monthly subscribers in the United States between March 2025 and March 2026, in line with Disney+ and HBO Max and well above Netflix, which has less room for growth. It has also reduced its monthly churn rate from 6.3% in March 2025 to 4.8% in March 2026 (Netflix’s remains very low, at around 2%), according to Business Insider. Apple TV’s advantage is that it does not need hundreds of millions of subscribers, as streaming is just one arm of the company — and not one of its most important.

Disney+: At the heart of the company

In February, Disney appointed Josh D’Amaro as chief executive, replacing Bob Iger. D’Amaro previously oversaw the Experiences division— theme parks, cruise lines, and other live entertainment — which is the company’s main source of revenue.

Shortly after taking the helm, he spoke about the platform’s future at his first meeting as CEO: “Disney+ will continue to evolve beyond a traditional streaming service to become the digital centerpiece of our company — a portal that connects our stories, experiences, games, films, and more in entirely new ways.”

Disney+ already includes vertical video and is expected to introduce AI-generated content in the future. With plans to add games, it is also set to move closer to what Netflix has been doing for some time. At Disney, all film and television operations will be overseen by Dana Walden, the company’s president and chief creative officer.

Warner Bros. and Paramount: A unique platform

After much back-and-forth, Paramount ultimately won the battle to acquire Warner Bros. Discovery, seeing off competition from Netflix. Warner Bros. shareholders have approved the sale, although it still needs to clear several regulatory hurdles. The deal has drawn opposition in Hollywood, with numerous directors, writers, producers, and actors voicing concern about the risk of job cuts. The acquisition would also lead to the departure of David Zaslav, president of Warner Bros. Discovery, who is set to leave with what could be one of the largest severance packages in history.

In practical terms for the platforms, the plan is to merge HBO Max and Paramount+ into a single service. That said, Paramount CEO David Ellison has suggested that HBO could retain a degree of independence in its production arm. “HBO should stay HBO,” he said at a press conference.

Movistar Plus+: Instability and uncertainty

Just days ago, Telefónica executive chairman Marc Murtra appointed Alfonso Gómez Palacio as chief executive of Movistar Plus+, Spain’s main pay TV service, replacing Daniel Domenjó, who had been in the role for just over a year. Gómez Palacio, who previously led Telefónica’s Hispanoamérica operations and has no background in the audiovisual sector, now takes charge of the television platform.

When the group presents its quarterly results in the coming weeks, it is expected to outline its plans for Movistar Plus+ and whether further changes are in store across Fiction, Sports and Entertainment — areas that were already restructured a year ago.

In any case, Gómez Palacio’s appointment points to a shift towards tighter financial control and efficiency. The fact that Movistar Plus+ has had three CEOs in just three years makes it harder to maintain continuity in its original production projects. It also remains to be seen how the strategy pursued by Domenjó — who was brought in to boost in-house production and expand the platform into new, more entertainment-driven formats — will ultimately play out.

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