Netflix 与 Paramount 围绕华纳兄弟探索（Warner Bros Discovery）展开约 1000 亿美元的竞购战，凸显了对规模与内容库的争夺，但更大的趋势是观众把更多时间花在非好莱坞视频上。

在美国电视上，YouTube 占电视流媒体的 28%，而 Netflix 为 19%，这意味着在不计入额外的手机观看时长之前，YouTube 的份额约大 1.5 倍。

商业模式与内容形态正在趋同：YouTube 的无广告套餐订阅数超过 1.25 亿（大致与华纳兄弟相当），而两分钟一集的“微短剧”这类新短形态系列可以做到 90 集，同时人工智能正在缩小业余与片厂制作之间的成本差距。

A roughly $100bn bidding fight between Netflix and Paramount for Warner Bros Discovery highlights a scramble for scale and libraries, yet the larger trend is viewers spending more time on non-Hollywood video.

On US TVs, YouTube accounts for 28% of streaming versus Netflix’s 19%, meaning YouTube’s share is about 1.5× larger before counting additional mobile viewing hours.

Business models and formats are converging: YouTube’s ad-free plans exceed 125m subscribers (around Warner Bros’ level), while new short-form series such as two-minute “micro dramas” can run 90 episodes, and AI lowers the cost gap between amateur and studio production.

Source: The battle for Warner Bros is a prelude to the real streaming war

Subtitle: Professionally made shows face tough competition from independent makers

Dateline: 12月 11, 2025 06:42 上午