Streaming's Great Reset: Why Fewer Originals and More TV Alliances Signal Maturity

Have the "streaming wars" as we knew them finally ended? For years, the industry was defined by an insatiable hunger for original content, an endless pipeline of new shows and movies designed to hook subscribers. However, a recent report from Glance, a specialist in TV and video market intelligence, presented at MIPCOM 2026, suggests that era is firmly in the rearview mirror. What we are witnessing is streaming's definitive entry into a mature phase, prioritizing sustainable growth and strategic alliances over the relentless, often unsustainable, flood of new programming.

At the Palais des Festivals in Cannes, Glance's Senior-Vice-President, Frédéric Vaulpré, highlighted a significant contraction in new content offerings across both traditional television and streaming platforms. This pivotal shift, detailed in the report, indicates a fundamental change in strategy, with platforms increasingly turning to partnerships with broadcasters to expand their catalogs, rather than solely relying on costly originals. The message is clear: the race for sheer volume is over; the focus is now on strategic content acquisition and a more integrated media landscape.

The Great Content Contraction is a Strategic Reorientation

The numbers from Glance's analysis are striking and undeniable: the supply of new content is shrinking across the board. Between January and September 2026, new series on linear TV fell by 12 percent compared to the same period in 2025 across 48 territories. The trend is mirrored in the streaming world, with new content in global platform catalogs dropping by 12 percent on Netflix and a substantial 41 percent on Disney+. This isn't merely a slowdown; it's a deliberate reorientation of resources, signaling that the initial land-grab phase of streaming has concluded. While this might disappoint some viewers accustomed to a constant stream of novelties, we believe it reflects a necessary move towards financial prudence and a more curated content strategy. Rather than commissioning countless new shows, platforms are focusing on what truly resonates: returning seasons. In Spain, for example, returning seasons now account for 58 percent of Netflix's Top 10 viewing, a significant jump from 35 percent in 2023, while new launches have fallen from 65 percent to 33 percent.

Curiously, even as new original production declines, SVoD catalogs continue to expand. This seemingly contradictory trend is explained by a surge in broadcaster partnerships. In France, Netflix's catalog grew by 61 percent in content hours in June 2026 thanks to the contribution of TF1+, while Prime Video saw a 49 percent increase with content from M6+ and france.tv, as reported by advanced-television.com. This demonstrates a fundamental pivot: streaming is moving closer to the traditional TV model, leveraging existing, proven content rather than solely building from scratch. This 'coopetition,' as Vaulpré termed it, blurs the lines between old and new media, creating a more symbiotic ecosystem.

The Blurring Lines: "Coopetition" is the New Normal

Frédéric Vaulpré's assertion that "streaming has entered its maturity phase, and the line between broadcasters and platforms is blurring" succinctly captures the industry's evolution. The era of the "streaming wars," characterized by fierce, isolated competition, appears to be yielding to a new paradigm of "coopetition." This involves both direct competition, especially as ad tiers on streaming platforms put them squarely against traditional broadcasters for advertising revenue, and increasing collaboration. The partnerships between streaming giants and established broadcasters are a testament to this, creating a more integrated content distribution network. This shift is also visible in market performance: in the US, broadcast networks have shown much greater resilience than cable, with streaming's share of total video climbing from 36 percent to 48.5 percent between January 2024 and June 2026. Simultaneously, broadcaster VoD is gaining advertising share in declining TV ad markets, further illustrating the interconnectedness of these formerly distinct entities. In our view, this strategic convergence is not a retreat but an adaptation, recognizing that a diverse, multi-platform approach is more sustainable than siloed content empires.

Live Events and Niche Content: The Enduring Powerhouses

Despite the tectonic shifts, some aspects of content consumption remain steadfast. Live programming, particularly sports, continues to be a powerful draw, capable of uniting vast audiences. The 2026 FIFA World Cup serves as a prime example, reaching a cumulative 2.6 billion viewers in China, with record-breaking audiences in the UK, Spain, and Norway. This enduring appeal of live events is not lost on streaming platforms, which are actively pursuing major sports partnerships, such as the UEFA Champions League on Paramount+ in the UK, the NHL on Prime Video in the US, and Formula E on Disney+ worldwide. This strategy acknowledges that certain content experiences are best delivered live, tapping into a communal viewing experience that streaming, despite its on-demand nature, increasingly seeks to replicate.

Beyond live events, Glance also identified emerging content trends that speak to a more diversified and audience-responsive industry. The rise of ecological dramas, weaving climate change into various genres, and series championing ordinary heroes challenging powerful systems, indicate a move towards more thematic and socially relevant storytelling. Even vertical video and microdramas, previously seen as experimental, are being highlighted at events like MIPCOM as evolving into a larger international business, suggesting a broader acceptance of diverse formats and distribution channels. The industry, therefore, is not just consolidating; it is also diversifying in subtle yet significant ways, adapting to evolving viewer habits and interests.

In essence, the streaming landscape is shedding its adolescent skin. The era of unchecked spending and a singular focus on new originals is giving way to a more pragmatic, mature phase. This involves strategic partnerships, a renewed appreciation for established content and live events, and a smarter approach to content creation and acquisition. The winners in this new era will be those who master the art of "coopetition," understanding audience drivers, and building sustainable business models that blend the best of traditional TV with the innovation of streaming. The future of entertainment looks less like a battlefield and more like a complex, interconnected ecosystem where collaboration is key to survival and growth.