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Mediobanca: streaming now drives global M&E growth as legacy TV shrinks

Mediobanca’s Media & Entertainment Report finds the top 25 global operators posted 362.8 billion euros in 2025 turnover, up 2.8 percent, with streaming growing 13.4 percent to reach 22.2 percent of revenues.

Why it matters. Legacy broadcasters must keep shifting investment toward AVoD, ad-supported tiers and FAST channels as traditional TV advertising and pay-TV revenue keep contracting.

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