DirecTV and WarnerMedia are seeing “probably a 20% decline in aggregate” in advertising sales at present, given the economic shocks caused by stay-at-home orders.
Stankey’s macro-level view of TV being in a “transitional moment” from linear to on-demand streaming doesn’t bode well for DirecTV. He suggested that the traditional MVPD bundle that has powered entertainment earnings will survive as a vehicle for live sports, news and other events. “The most survivable element of the live linear construct is going to be sports content,” he said.