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

From megamergers to disruptive new technologies, the media industry has a lot to pack into the next 12 months. Artificial intelligence continues to reshape the way movies, shows and music is made, roiling a business that is worried it will lead to more job cuts. Bob Iger is finally ready to move on from Disney (he pinkie-promises this time), setting up a succession battle for the ages. And Netflix and Paramount are locked in an epic fight over Warner Bros., a clash of titans — and egos — that shows no sign of abating. All of this is taking place as the box office is in a rut, cable is in free fall and the overall economy is teetering. So yeah, fun times! 

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We can’t say for certain what 2026 has in store, but we’re going out on a limb and channeling Nostradamus with predictions about the drama to come. 

“The Odyssey” Will Be the Year’s Biggest Hit

The name on everybody’s lips is gonna be Odysseus. Some of the biggest franchises in Hollywood history are returning to screens with sequels and spinoffs to “Star Wars,” “The Avengers,” “Toy Story,” “Super Mario Bros.” and “Dune.” But the film that will reign above them all is based on a piece of IP that’s been in the public domain for millennia. Christopher Nolan’s adaptation of Homer’s “The Odyssey” will dominate popcorn season: Who but Nolan could put Imax tickets on sale an entire year in advance and have fans snap them up in record time? And if he could turn the creation of the atomic bomb into a blockbuster, having people show up for an epic survival story that dates to the sixth century B.C. should be a piece of cake. 

Netflix Will Win the Warner Bros. Deal

The year is ending on a major M&A cliffhanger: Will Netflix or David Ellison’s Paramount Skydance score Warner Bros. Discovery? It sure looks like Netflix’s to lose, having swayed the WBD board with strong financials, its status as the No. 1 subscription streamer and co-CEO Ted Sarandos’ promise to keep the studio putting films in theaters. But there’s some regulatory uncertainty about the tie-up, and Trump remains a wild card. Meanwhile, Ellison and ultra-wealthy dad Larry Ellison aren’t going away without a fight. But to prevail in the hostile takeover move, the Ellisons need to get 90% of WBD shares voted for their all-in offer. It’s hard to see that happening unless Paramount and its backers are willing to go higher than the $30-a-share proposal on the table.

The Next Leader of the Magic Kingdom Is …

Bob Iger (finally!) is exiting stage left with his Mickey Mouse gold watch at the end of 2026. Who will get the call? Wall Street expects the shortlisted candidates to be Dana Walden, co-chair of Disney Entertainment, and Josh D’Amaro, head of the conglomerate’s parks and experiences division. Walden has the entertainment bona fides; D’Amaro is a respected leader at the company. It’s possible the board opts for a co-CEO arrangement, but that doesn’t feel like the Disney way. The board could also throw a curveball — and hire someone from the outside. But the directors are surely doing their fullest due diligence, given how things turned out last time. Let’s give the edge to D’Amaro. 

Can Hollywood Get Its Arms Around AI?

In the Wild West of artificial intelligence, entertainment companies are trying to swing both sticks and carrots. Disney, Universal and Warner Bros., for example, have sued two AI startups alleged to have ripped off their intellectual property. And Disney is trying to control its own AI destiny by going into business with OpenAI. Ultimately, Disney is betting eventual technical and legal guardrails will let it participate in the gold rush — and not be sideswiped by the slop. Expect the rest of the industry to explore similar strategies.

Meanwhile, the music industry faces its own struggles with AI. For a few months, it seemed as though the biz was on the same page in viewing generative AI as a looming threat to human creativity and compensation. In July 2024, Sony, Universal and Warner teamed with the Recording Academy for two copyright infringement cases against AI music services Suno and Udio. But as AI music has gone from fringe to foreground — Xania Monet, for instance, became the first AI act to debut on a Billboard radio chart in November — the majors have instead struck deals; by the end of 2025, Warner had partnered with Suno. The big three forged licensing deals with AI music startup Klay, and joined forces with Spotify to address issues with AI usage. The concern from artist and songwriter communities is valid — almost all of the deals were announced in amorphous terms. Proof of concept is likely to come in 2026, when the products resulting from these partnerships are expected to launch.

 Big Questions for the Small Screen

In 2026 all eyes will be on what two powerful ex-Netflix execs do at their new homes: Paramount Skydance streaming chief Cindy Holland’s ultimate vision for Paramount+ should come into view. And new Amazon MGM Studios head of global TV Peter Friedlander will put his stamp on that company. Meanwhile, as Versant kicks off as a stand-alone company, keep an eye on what its networks might do in live TV and program acquisitions. In broadcast, the future of CBS News under Bari Weiss will be a top concern. In late night, what happens on CBS after “The Late Show With Stephen Colbert” ends its run (our prediction: The Eye network expands its 11 p.m. local news to an hour) will soon be known. In development, a hot topic will be the microdrama business — and how it might be adapted to TV. And the unscripted world is focused on runaway productions as more series find it cheaper to ship contestants overseas. Then there’s the looming specter of Hollywood strikes with the guild contracts expiring.