– Netflix reported more than 325 million subscribers worldwide as of the end of 2025, up from 301.2 million a year earlier.

– The company posted quarterly revenue of USD 12.05 billion (up 17.6%) and net income of USD 2.41 billion (up 29.4%), translating to USD 0.56 per share.

– In 2026, Netflix expects content amortization growth of around 10%, indicating that content spending will reach approximately USD 20 billion for the year, compared with roughly USD 18 billion in 2025.

– Shares of Netflix fell about 5% in after-hours trading following the earnings release.

In further news, Netflix has entered an agreement with Sony Pictures Entertainment that will make Netflix the exclusive Pay-1 streaming home for Sony’s feature films worldwide, following their full theatrical and home entertainment windows.

Pay-1 refers to the first subscription window a movie enters after completing its cinema run and home entertainment phase (digital rental and purchase, Blu-ray, etc.). It is typically the first premium, paid-to-watch window and is often exclusive to a single service for a defined period.

The multi-year agreement will roll out gradually from later this year as individual territory rights become available, with full global availability on Netflix expected in early 2029. In addition to new releases, Netflix will also license selected Sony Pictures feature film and television library titles.

Some of the first Sony Pictures Entertainment feature film titles set to stream on Netflix under the new deal include Sony Pictures Animation’s Buds, Nintendo’s live-action The Legend of Zelda, and Spider-Man: Beyond the Spider-Verse.

TikTok has quietly released a new standalone short-drama app called PineDrama. The app offers access to microdramas, which are bite-sized TV shows that can be watched as a series of one-minute episodes. It is essentially like TikTok, but every video you encounter is a short episode of a fictional story. PineDrama is currently available in Brazil and the US. It is free and currently ad-free.

The app features a “Watch history” section that allows users to jump back into different series, as well as a “Favorites” section where viewers can save their preferred dramas. Users can also share their thoughts with other viewers in the comments and switch to a full-screen viewing experience that removes the caption and sidebar.

Short-form storytelling hasn’t always been successful. In 2020, DreamWorks co-founder and former Disney executive Jeffrey Katzenberg launched a short-form streaming platform called Quibi with USD 1.75 billion in funding. The platform offered episodes under 10 minutes featuring popular Hollywood actors, but failed to gain traction and shut down six months later.

However, investment in vertical video continues to grow. In last week’s newsletter, we wrote about Disney’s planned launch of a vertical video feed. During Netflix’s earnings call yesterday, the company also announced plans to revamp its mobile app and expand its short-form video feature.

Set to launch later in 2026, Netflix’s redesigned mobile app is intended to “better serve the expansion of our business over the decade to come,” according to co-CEO Greg Peters. At the center of the redesign is deeper integration of vertical video feeds, which the streaming giant has been experimenting with since May.

The BBC and YouTube are in talks over a landmark deal that would see the British broadcaster produce content for the video platform, Variety has confirmed.

The deal is expected to be announced as early as this week and would involve the BBC creating bespoke shows for new and existing channels it operates on YouTube. These programs could also be made available on BBC iPlayer and BBC Sounds. The BBC declined to comment on the matter, and YouTube did not immediately respond to Variety’s request for comment.

The potential agreement highlights the growing challenge YouTube poses to linear television, as younger audiences increasingly turn to the platform for both entertainment and news. According to the Financial Times, the BBC’s YouTube content would primarily target younger viewers, focusing on, children’s content and sports, among others.

The Financial Times also reports that the BBC would be able to generate revenue from the partnership by running advertising on programs shown outside the U.K. As a public-service broadcaster, the BBC does not carry advertising domestically and instead funds its operations through a licence fee paid by U.K. audiences.

The possible BBC–YouTube deal comes as the BBC faces a USD 10 billion defamation lawsuit from US President Donald Trump over an edit of his January 6 speech, and amid news that YouTube will become the home of the Oscars in 2029 after decades on ABC.