On today’s episode, Variety’s Todd Spangler breaks down Netflix’s Q4 2025 earnings report and what the numbers reveal about the streamer’s business momentum. And he reads between the lines on what co-CEOs Ted Sarandos and Greg Peters had to say about the status of Netflix’s $83 billion deal to acquire Warner Bros. Discovery.

On today&rsquo;s episode, Variety&rsquo;s Todd Spangler <a href="https://variety.com/2026/tv/news/netflix-q4-2025-financial-earnings-subscribers-1236635615/">breaks down Netflix&rsquo;s Q4 2025 earnings report</a> and what the numbers reveal about the streamer&rsquo;s business momentum. And he reads between the lines on what co-CEOs Ted Sarandos and Greg Peters had to say about<a href="https://variety.com/2026/tv/news/warner-bros-discovery-shareholders-reject-paramount-hostile-bid-inferior-scheme-1236637817/"> the status of Netflix&rsquo;s $83 billion deal to acquire Warner Bros. Discovery.</a>

Industry leaders converse about business deals, strategy and the future of media and entertainment.

Strictly Business

Industry leaders converse about business deals, strategy and the future of media and entertainment on Variety's weekly interview series.

Industry leaders converse about business deals, strategy and the future of media and entertainment on Variety's weekly interview series.

Variety's Strictly Business

Daily Variety -- Investors Fret But Netflix Fights for Warner Bros. Discovery Deal

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/d8b3bb24-a33d-4530-a8a1-b3da0121f078/transcript