This year saw a fundamental shift in the way media is regulated, monetized and consumed. Here are the trends that we think will shape 2026:

1. U.S. cedes soft power: America's pullback from the global information war has left an opportunity for China, Russia, Iran and others to ramp up investments in state-backed propaganda.

• The gutting of government-funded international broadcasters, the shuttering of the U.S. disinformation office, and a broader content moderation pullback from Big Tech has made it easier for adversaries to target the U.S. and developing countries with propaganda.

2. Executive branch takes over media regulation: Federal agencies responsible for regulating media and advertising companies are relinquishing power to the executive branch during the Trump era.

• FCC chair Brendan Carr last week said the FCC "is not an independent agency" during Senate testimony.
• The Supreme Court appears poised to allow President Trump to unilaterally fire members of the Federal Trade Commission.

3. Big deals, bigger politics: The streaming wars have put more pressure on big media companies to consolidate. But with bigger deals comes heavier regulatory scrutiny that's increasingly politicized.

• The Jimmy Kimmel saga and the CBS and ABC settlements with President Trump show how much companies with local broadcasters that are eager to consolidate can be vulnerable to political pressure.
• Trump has suggested that he will play a role in approving a potential acquisition of Warner Bros. Discovery, even though an independent judge would ultimately be responsible if the Justice Department sues to block it. Democrats on Capitol Hill have alleged these deals are anticompetitive, even though it's not their job to approve them.

4. MAGA media collapse: The unified coalition that helped propel Trump to a second term is collapsing as infighting between MAGA's most visible media personalities spills out publicly in the wake of Charlie Kirk's assassination.

• Accelerating the right's media meltdown are three major issues: Israel, hate speech and the Epstein files.

5. AI slop spiraling: A deluge of AI "slop" or low-effort, AI-generated content is already starting to crowd social feeds, driving clickbait and passive scrolling that makes it harder for paid marketers to break through.

• Shortly following Sora 2's debut in September, Meta said it would introduce its own AI-driven video app called Vibes that will become more personalized as users engage with its content. Both will compete directly with TikTok, Instagram Reels and YouTube Shorts.

6. Big Tech vanquishes Washington: Big Tech has defeated its bipartisan critics, setting itself up to get even bigger.

• There is widespread agreement in D.C. that a handful of companies have become uncomfortably powerful. But almost all efforts to stem the tide have failed, leaving politicians with few deliverables beyond viral videos of CEOs being berated during congressional hearings.

7. Ad forecasts rise as tariff fears fall: Advertising analysts have revised their 2025 forecasts to reflect more optimism in the market, thanks to less trade policy volatility and more AI-fueled expansion.

• Analysts were worried trade policies would hamper spending, but so far, that hasn't been the case.

8. Theaters need China: Box office revenues are still down compared to pre-pandemic levels, thanks in part to one of the worst summer seasons in history.

• But family-friendly hits, such as "Zootopia 2" and "A Minecraft Movie," were able to buck the trend, in large part thanks to China allowing more animated PG films into the country for distribution.

9. Podcasts drive video wars: Video podcasts are booming, providing bigger audiences for video streamers and better revenue opportunities for audio giants.

• Spotify and iHeartMedia are partnering with Netflix to bring some video podcasts to the platform, which could then be watched on TVs.

10. Sports rights rising: The value of U.S. TV and streaming sports media rights is projected to total nearly $30 billion this year, representing a roughly 100% increase over the past decade.

• While there aren't many big rights coming up for grabs in 2026, the NFL is expected to start renegotiating its media rights deals before its 2029 opt-out deadline.

11. Phone bans spread globally: Australia this month became the first major democratic nation to ban children under 16 from popular apps such as TikTok and Instagram.

• The move has been heralded by other world leaders in places like France, Denmark, New Zealand, South Korea and more who say they are eyeing similar reforms.

CBS News' new editor-in-chief Bari Weiss is planning to create a masthead for the broadcaster as part of a broader overhaul of standards and procedures, according to a source familiar with her plans.

Why it matters: The masthead is meant to drive a more streamlined hierarchy and set of processes across show and news gathering teams that are intended to prevent disparate editorial procedures and standards.

Zoom out: The changes come in the wake of a controversy that saw her pulling a story about Trump administration deportations of Venezuelan immigrants to an El Salvador prison, according to a source familiar with her plans.

• One of the main reasons Weiss cited for pulling the segment was that the "60 Minutes" team didn't include any of the three on-the-record statements from the White House, State Department and Department of Homeland Security that were provided to CBS News journalists.

📧 The intrigue: According to a source familiar with the "60 Minutes" team's correspondence with the administration, journalists reached out to press officials at the White House, State Department and DHS, all of which provided comment to CBS News ahead of the piece's anticipated run date.

• None of those comments, which varied in length and substance, were included in the piece, which has been made public from a recording that was distributed via an app owned by Global TV, which airs "60 Minutes" in Canada.
• In a memo to colleagues, correspondent Sharyn Alfonsi defended the package, noting it had been screened internally five times and cleared by both CBS attorneys and the standards team.

Between the lines: The segment notes DHS "declined our request for an interview and referred all questions about CECOT to El Salvador."

• It does not reference any other part of the over 300-word, on-the-record comment from DHS assistant secretary Tricia McLaughlin.

State of play: With the new masthead will come a new structure and set of policies that will require all show teams, not just "60 Minutes," to provide more visibility to senior editors ahead of sensitive segments and stories.

• Weiss, Axios has reported, first saw the segment on Thursday.

The other side: In a "60 Minutes" staff meeting Monday, correspondent Scott Pelley reportedly implied, according to the New York Times, that Weiss missed earlier screenings of the segment. "It's not a part-time job," Pelley reportedly said.

The big picture: The reaction to the controversy has largely followed party affiliation, with conservatives crying foul over the fact that administration comments were left out, and liberals arguing the situation proves Weiss and Paramount's new owners are looking to curry favor with the Trump administration.

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One of the reasons Bari Weiss' attention to date wasn't focused as closely on "60 Minutes" has been the fact that the flagship news magazine has been CBS News' most successful franchise by far for decades, a source told Axios.

• Other programs, such as "CBS Evening News" — which has struggled to keep up with NBC and ABC in the ratings for years — have taken priority.
• Last week, Weiss named one of the network's morning show anchors, Tony Dokoupil, the new anchor of "CBS Evening News," as part of a broader overhaul of the program.

⭐️ By the numbers: "60 Minutes" wrapped its 51st consecutive season as the No. 1 television news program earlier this year, according to Nielsen figures.

• While the transition to streaming and digital news has been a ratings killer for many shows, the CBS News staple remains a juggernaut.
• CBS News' sit-down interview with President Trump last month drew a whopping 14 million viewers, according to final Nielsen data.

What to watch: Whether the corporate drama and internal politics actually impact viewership long term.

Paramount updated its takeover bid for Warner Bros. Discovery yesterday with a guarantee from Oracle chair Larry Ellison to provide an "irrevocable personal guarantee of $40.4 billion of the equity financing."

Why it matters: Last week, the WBD board said Paramount "misled shareholders" about the reliability of its backstop from Paramount CEO David Ellison's family because the funding was coming from a revocable family trust that could be amended before the deal closed.

Zoom in: David Ellison, the son of Larry Ellison, also agreed "not to revoke the Ellison family trust (which has been operating for nearly 40 years as a counterparty to numerous transactions) or adversely transfer its assets during the pendency of the transaction," according to a Paramount statement.

• Later Monday evening, WBD's board confirmed receipt of Paramount's updated bid but said, "The Board is not modifying its recommendation with respect to the Netflix Merger Agreement."
• Netflix also said yesterday it secured up to $25 billion in bank financing to fund its bid.

By the numbers: The amended bid notably did not include a price increase, as Paramount continues to argue that its $30-per-share offer is superior to Netflix's bid, which includes cash and stock worth $27.75 per WBD share.

• The Netflix bid valued Warner Bros. studio and streaming assets at $82.7 billion. The Paramount bid valued the entire company, including WBD's cable networks, at around $108 billion.

Yes, but: The amended Paramount bid raised the proposed breakup fee from $5 billion to match Netflix's $5.8 billion offer.

What's next: Paramount extended the deadline for WBD shareholders to tender their shares from Jan. 8 to Jan. 21.

TikTok has signed a deal to divest its U.S. entity to a joint venture controlled by American investors, per an internal memo seen by Axios.

Why it matters: A deal would end a yearslong saga to force TikTok's Chinese parent ByteDance to sell the company's U.S. operation to domestic owners to alleviate national security concerns.

Yes, but: The announced deal still has some holes in it, including who is behind 5% of the financing.

By the numbers: Oracle, Silver Lake and Abu Dhabi-based MGX will collectively own 45% of the U.S. entity, which will be called "TikTok USDS Joint Venture LLC," per an internal memo sent by CEO Shou Zi Chew.

• Around 30% of the company will be held by affiliates of existing ByteDance investors, and nearly 20% will be retained by ByteDance.
• The remaining 5% stake is still being worked out, sources told Axios.
• Earlier reports suggested media moguls Rupert and Lachlan Murdoch and tech entrepreneur Michael Dell were part of previous deal talks.

Zoom out: The deal values TikTok U.S. at around $14 billion, a source confirmed to Axios — a clear sign of how desperate ByteDance was to sell the app to avoid potential lawsuits.

• Third-party estimates suggest TikTok's U.S. ad business alone will bring in over $14 billion this year.
• By that measure, TikTok's U.S. arm would only be valued at 0.95x its estimated ad revenue this year, which pales in comparison to Meta's multiple of 9.38x its projected 2025 global ad revenue.

What's next: The agreement is set to close on Jan. 22, the day before President Trump's latest executive order extending the ban deadline is set to expire.

Major video streaming services, on average, have hiked their cheapest, ad-free subscription tier prices by $6.69 since launch, according to an Axios analysis.

Why it matters: Streaming inflation has pushed users to pursue more free, ad-supported streaming options like Tubi and Roku.

• It's also part of what's driving consolidation in the industry, as entertainment giants look to rebundle and repackage their services to make them more palatable to cost-conscious consumers.

The biggest offenders:

• Disney+ now costs $18.99 for its cheapest, ad-free tier, up from $6.99 at launch in 2019.
• Netflix and Hulu's cheapest ad-free tiers have each increased by $9 since launch.

The other side: HBO Max has only hiked the price of its cheapest ad-free tier by $3.50 since launch, in part because it debuted its service at a much higher price point than rivals in 2020 ($14.99).

Between the lines: It's not just video. Major music streamers have upped their prices by $1 monthly, on average, since launch.

What to watch: Five of the eight major video subscription streamers introduced new price hikes in the U.S. this year, which means that 2026 may not see as much inflation.

Axios' Media Trends Executive membership, authored by myself and Kerry Flynn and edited by Christine Wang, has just rounded out its first year.

Here's what you missed if you are not a member:

Monthly reports: We publish a monthly deep dive exclusively for members on timely topics that matter for professionals and practitioners:

• 🏛️ Historic legal battles
• 🎬 Hollywood, disrupted
• 🔎 Future of search
• 📈 Sports rights rising
• 📺 Streamers dominate Upfronts
• 🗺️ Agency chaos, mapped
• 📏 Measurement mess
• 🌊 AI deal flood
• 🇨🇳 China's propaganda machine
• 🛟 Saving local news
• 🌎 Foreign money invasion

Quarterly reports: We publish quarterly reports on advertising economics and internet platform trends.

Annual report: Our definitive annual report on global media trends was published in September and debuted at our annual Media Trends Live event.

What's next: We plan to double down on member-only events in 2026. Media Trends Live will also return to NYC in September.

In 2025, newsrooms reckoned with generative AI spewing inaccuracies alongside familiar — and sometimes innocent and humorous — human errors.

Why it matters: A surge of AI-fueled corrections underscores how automation without human fact-checking and oversight, can undermine news outlets' trust and credibility.

Here are some examples...

• March 26, Bloomberg: "An AI summary previously at the top of the story was removed because it lacked attribution on tariff timing."
• April 16, The Post (New Zealand): "An earlier version of this story contained inaccuracies about the injuries to a Hutt Valley High School student. Robert Wilson's leg was injured as his third form class was being moved by their teacher from a prefab to the safety of a nearby two-storey concrete block. He was hit by a sheet of the roofing iron which also pushed him onto glass. Wilson had to have surgery on his leg but it was not amputated. He was never called Stumpy. (Amended Thursday April 17, 2025. 15.10pm)"
• May 7, Wired: "After an additional review of the article, 'They Fell in Love Playing Minecraft. Then the Game Became Their Wedding Venue,' WIRED editorial leadership has determined this article does not meet our editorial standards. It has been removed."
• Oct. 31, Fox News: "This article previously reported on some videos that appear to have been generated by AI without noting that. This has been corrected."
• Nov. 12, Dawn: "This report published in today's Dawn was originally edited using AI, which is in violation of our current AI policy. The policy is available on our website and can be reviewed here. The original report also carried AI-generated artefact text from the editing process, which has been edited out in the digital version. The matter is being investigated, and the violation of AI policy is regretted."
• Dec. 20, The Guardian: "A recipe for roast squash velouté from our vegetarian Christmas feature included a cheese that was not vegetarian. Instead of Baron Bigod, a vegetarian brie‑style cheese can be substituted."