Variety’s 2026 Media Predictions: ‘The Odyssey’ Domination, Disney CEO Shuffle and Netflix Winning Warner Bros. Deal

The coming year promises to be a pivotal one for the media landscape, defined by technological upheaval, high-stakes corporate battles, and a search for stability. As artificial intelligence fundamentally alters content creation, sparking fears of widespread job losses, and traditional revenue streams like the box office and cable television continue to decline, industry giants are maneuvering for position. All eyes are on Disney, where Bob Iger has firmly committed to stepping down as CEO by the end of 2026, finally setting the stage for a closely watched succession race after previous false starts. Simultaneously, a fierce bidding war for Warner Bros. Discovery is underway, pitting streaming leader Netflix against the deep-pocketed Paramount Skydance alliance led by David Ellison.

In this climate of uncertainty, several major trends are poised to define 2026. The year's cinematic champion is predicted to be Christopher Nolan's ambitious adaptation of Homer's "The Odyssey." While franchises like "Star Wars" and "The Avengers" will release new chapters, Nolan's take on the ancient epic—a story in the public domain for over two millennia—is forecast to dominate. Given his track record of turning complex historical subjects, like the development of the atomic bomb in "Oppenheimer," into global blockbusters, industry watchers believe he can make ancient myth a modern box-office phenomenon. This project underscores Hollywood's relentless hunt for compelling intellectual property, even reaching back to classical literature.

The corporate showdown for Warner Bros. Discovery appears to be tilting toward Netflix. The streaming giant's formidable financial health, its position as the top subscription service, and co-CEO Ted Sarandos's public commitment to maintaining a theatrical window for films have reportedly impressed the WBD board. However, regulatory hurdles and potential political variables introduce uncertainty. Paramount Skydance, backed by the immense wealth of Larry Ellison, remains a determined contender, but analysts note their hostile takeover bid requires securing 90% of shareholder votes—a steep challenge unless they significantly exceed the current $30-per-share offer. The outcome will reshape the competitive map of streaming and film studios.

Meanwhile, the industry's relationship with artificial intelligence is evolving from outright conflict toward cautious collaboration. After initial lawsuits from major studios against AI startups for alleged copyright infringement, companies like Disney are now investing in strategic partnerships, such as its deal with OpenAI, aiming to shape the technology's development. The music industry has followed a similar path. Following copyright lawsuits against AI music generators Suno and Udio filed in mid-2024 by major labels and the Recording Academy, the sector has shifted toward licensing. By late 2025, Warner Music had partnered with Suno, and all three major labels made deals with AI startup Klay. As noted by media analyst Anya Sharma, "The industry's strategy has pivoted from litigation to monetization, betting they can build revenue streams from AI rather than just block it." The true test will come in 2026 as products from these partnerships launch, revealing their impact on artist compensation and creative norms.

Television faces its own set of transformations. Key executives who shaped Netflix's rise, like Cindy Holland at Paramount+ and Peter Friedlander at Amazon MGM Studios, will implement their visions for their new platforms. The industry is also watching the launch of Versant as an independent company and its potential moves into live programming. Other critical questions include the direction of CBS News under new leadership, the future of CBS's late-night slot after Stephen Colbert, and the potential adaptation of short-form "microdrama" trends for television. Furthermore, with guild contracts expiring, the threat of another Hollywood labor strike looms, adding another layer of instability to a sector already navigating runaway production to cut costs and the relentless pressure to innovate.