Network 10’s content prospects in Australia have risen with its parent company’s acquisition of Warner Bros, according to industry analysts.
Paramount Skydance is buying Warner Bros in a $156 billion deal, beating out Netflix.
The acquisition gives Paramount one of the deepest content libraries in the world, including Warner Bros IP, HBO, DC and Discovery, all of which are likely to flow through to Network 10 and Paramount+ Australia.
For Network 10, the timing is critical. The network's advertising revenue share has been under pressure, with analysts estimating it has fallen below 20%.
“If you extrapolate what Seven and Nine have said in their first half FY2026 results, 10 is in a perilous state; sub well and truly under 20% revenue share, closer to 15%," said Steve Allen, director of strategy and research at Pearman Media.
“This deal is, my guess, pivotal to Network 10 survival.”
Eb Yusuf, general manager - strategy, culture & insights at Yango, said the deal means an epic back catalogue of Warners Bros content .
“Consolidated with Paramount’s current catalogue, this could prove to be a powerful rival to Disney+ and Stan in this market,” said Yusuf.
“Will it rival Netflix? Who knows, we might see some real competition in the streaming domain.
Catherine Edghill, Hatched Sydney general manager, also highlights Paramounts new access to one of the deepest content libraries in the world.
“Being part of a global streaming powerhouse should also mean more scale against Seven and Nine,” she said.
However, there is caution about where 10 sits within a much larger global structure.
Wayde Bull, founder and planning director at branding agency Principals, said the catch is that it also creates an even denser web of brands to support and prioritise.
“10 and Paramount+ will sit beside HBO, Warner Bros., DC, Discovery, all with bigger global profiles and stronger internal sway,” Bull said.
“10 still has an obvious role as the free-to-air brand. But keeping it strong inside a debt-heavy, globally brand-rich group will be hard.
“The risk is that 10 ends up as a humble distribution pipe for offshore content rather than a distinct cultural presence. Will we soon see the dismantling of the Aussie larrikin network?”
Edghill at Hatched said a mid-sized broadcast network in Australia simply isn’t where the strategic focus sits for a global powerhouse.
“Unfortunately, we could see reduced investment in local content, or Ten becoming somewhat of a marketing engine that drives audiences into the streaming giant,” she said.
“Let’s hope the powers that be see Ten as the gateway to Australian audiences and advertisers.”
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