Wall Street on Streaming: Growth, Risks & What’s Next
Wall Street’s View of CTV, OTT & Streaming: 5 Trends Shaping Streaming’s Financial Future
Get an insider look at what the financial world really thinks about streaming’s next phase. This session reveals the trends, monetization strategies, and market shifts Wall Street is betting on as we move into 2026.
What does Wall Street see as the biggest opportunities—and the greatest risks—in streaming? In this keynote from the OTT.X Summit, Needham & Company’s Laura Martin offers an insider look at how the financial markets are evaluating the current state and future direction of Streaming, CTV, and OTT.
This session dives into the fastest-growing sectors, the monetization models gaining real traction, and the new competitors reshaping the landscape from outside traditional media. Gain a data-driven understanding of what investors are watching most closely—and what that means for content owners, platforms, OEMs, and advertisers heading into 2026.
Speaker
- Laura Martin, Managing Director, Needham & Company
At this year’s OTT.X Summit, one of the standout sessions came from Laura Martin (CFA & CMT, Needham & Co.), who offered a rare Wall Street perspective on where streaming, CTV, and FAST are headed next. Speaking to a room filled with publishers, OEMs, AVOD platforms, and tech leaders, she brought clarity on how investors are reading the sector’s momentum — and what the financial markets will reward as we move deeper into 2025 and into 2026.
- Influencers Fuel the FAST Boom
The FAST viewing has grown 30% year-over-year, now claiming ~7% of total streaming time. Major creators are moving their content libraries to CTV, upgrading from $1–$2 mobile CPMs to $6–$8 on FAST. More supply helps the ecosystem grow — but also creates structural CPM pressure. - Premium Ad Formats Are Expanding — and Fragmenting
OEMs like Roku, Samsung, and LG are pushing high-impact formats such as pause ads, overlays, 3D placements, and virtual product insertion. While these units deliver higher CPMs, competing technology stacks increase fragmentation, complicating measurement and scale. - The Programmatic Shift Is Slower Than Expected
Although biddable programmatic is up 40% YoY, most premium CTV transacts via PMPs and PG deals. Publishers resist open auctions to protect content value, while OEMs gain leverage through first-party data. - First-Party Data = Pricing Power
Whether tied to viewership, commerce, shopping intent, or contextual metadata, first-party permission-based data now determines CPM strength and valuation multiples. Retail media giants like Amazon and Walmart lead here — but every platform is now expected to build or acquire meaningful data assets. - GenAI and Performance CTV Are Reshaping the Economics
GenAI is compressing creative and operational timelines from months to moments, accelerating content workflows, metadata generation, scheduling, and campaign setup. At the same time, performance CTV is opening the door to SMBs entering TV for the first time, expanding TAM and redirecting spend from social channels.
Heading Into 2026: What the Street Will Reward
As we approach 2026, investors will favor companies that move fast, automate aggressively, and diversify revenue. Ad-supported and subscription models are no longer enough — Wall Street now expects platforms to build four revenue pillars: ads, subscriptions, commerce, and data licensing.
The competitive edge in 2026 won’t be just about content or scale — it will come from data ownership, generative AI efficiency, and the ability to deliver measurable performance across the entire funnel. Companies that align with those expectations will define the next era of streaming growth.
Laura Martin
Managing Director, Senior Internet & Media Analyst, Needhamn & Company
Since 2009, Laura Martin has been the senior entertainment and internet analyst at Needham & Company, where she publishes research on the largest internet and media stocks in the US. Prior to Needham, Martin was the senior media analyst at Soleil Securities, where she was nationally ranked by Institutional Investor magazine as “Best of the Independent Research Boutiques” for many years, and at Credit Suisse First Boston, where she was nationally ranked by Institutional Investor in 1999, 2000, and 2001 as one of the top cable and entertainment analysts in the US.
Prior to CSFB, Martin worked at Capital Research & Management, where she provided analysis and managed a portfolio of media stocks. Laura Martin received her BA from Stanford, her MBA from Harvard Business School, and she holds a Chartered Financial Analyst (CFA) as well as a Chartered Market Technician (CMT) designation.
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OTT.X Breakfast at CES
Registration is now open for the annual OTT.X Breakfast at CES on January 6, 2026. Kick off CES with an exclusive, high-level gathering that brings together the most influential leaders in CTV, OTT, streaming, and digital entertainment.
This year’s theme, United in Innovation, reflects the power of our industry coming together to exchange ideas, forge partnerships, and set the agenda for the year ahead, perfectly aligning with the spirit of CES, where breakthrough technologies, bold thinking, and cross-industry collaboration take center stage.
The Breakfast provides an unmatched environment to connect with leaders across OEMs, platforms, ad-tech, content, devices, and the broader digital entertainment ecosystem all while enjoying premium networking and a full, hearty breakfast to kick off your CES morning.
Gather meaningful insights, spark new ideas, uncover opportunities, and set the tone for the year ahead before the CES show floor even opens.
The OTT.X Breakfast at CES is free for all OTT.X Members, and early-bird general admission pricing is now available.