How Wall Street Misread Netflix ($NFLX): My Talk with Tim Rowe on the State of Streaming Podcast

I had a great time joining Tim Rowe on the State of Streaming podcast for a wide-ranging conversation about the state of the media business as we head into the back half of 2026. If you love talking about media as much as I do, then State of Streaming belongs in your rotation. Go subscribe to the show and follow his work at stateofstreaming.com.

During our 30 min conversation, Tim and I covered a variety of topics including :

• YouTube ($GOOGL) versus Netflix ($NFLX) fight for attention,

• Why the engagement panic misreads what Netflix actually discloses,

• What Fox ($FOXA) acquiring Roku ($ROKU) means for the home screen, and

• Where I think the Paramount ($PSKY) / Warner Bros. Discovery ($WBD) deal ends up.

Watch the full episode on YouTube below.

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The episode is live now as a video podcast on YouTube, Apple Podcasts, and Spotify, and as audio on all other major listening platforms.

For paying subscribers to Accrued Interest: a full, searchable transcript of the entire conversation is below. (Transcript was generated by AI, apologies if any misspellings.)