v3.26.1
REVENUES (Tables)
6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following tables present the Company’s revenues disaggregated by revenue source (in millions).
Three Months Ended June 30, 2026
StreamingStudiosGlobal Linear NetworksCorporate and Inter-segment EliminationsTotal
Revenues:
Distribution$2,689 $$2,265 $(8)$4,950 
Advertising306 — 1,429 (11)1,724 
Content84 2,125 261 (642)1,828 
Other— 199 36 (20)215 
Total$3,079 $2,328 $3,991 $(681)$8,717 
Three Months Ended June 30, 2025
StreamingStudiosGlobal Linear NetworksCorporate and Inter-segment EliminationsTotal
Revenues:
Distribution$2,410 $$2,477 $(3)$4,885 
Advertising282 — 1,953 (19)2,216 
Content102 3,591 287 (1,509)2,471 
Other(1)209 86 (54)240 
Total$2,793 $3,801 $4,803 $(1,585)$9,812 
Six Months Ended June 30, 2026
StreamingStudiosGlobal Linear NetworksCorporate and Inter-segment EliminationsTotal
Revenues:
Distribution$5,222 $$4,638 $(9)$9,856 
Advertising590 — 2,999 (18)3,571 
Content152 5,059 607 (2,103)3,715 
Other389 124 (47)468 
Total$5,966 $5,453 $8,368 $(2,177)$17,610 
Six Months Ended June 30, 2025
StreamingStudiosGlobal Linear NetworksCorporate and Inter-segment EliminationsTotal
Revenues:
Distribution$4,739 $$5,035 $(5)$9,771 
Advertising519 3,711 (35)4,196 
Content190 5,730 667 (2,250)4,337 
Other382 164 (60)487 
Total$5,449 $6,115 $9,577 $(2,350)$18,791 
Schedule of Contract Liabilities
The following table presents contract liabilities on the consolidated balance sheets (in millions).
CategoryBalance Sheet LocationJune 30, 2026December 31, 2025
Contract liabilitiesDeferred revenues$1,514 $1,642 
Contract liabilitiesOther noncurrent liabilities342 355 
Schedule of Remaining Performance Obligations by Contract Type
The following table presents a summary of revenue expected to be recognized from remaining performance obligations by contract type (in millions).
Contract TypeJune 30, 2026Duration
Distribution - fixed price or minimum guarantee$2,657 
Through 2030
Content licensing and sports sublicensing4,714 
Through 2032
Brand licensing4,688 
Through 2062
Advertising873 
Through 2032
Other126 
Through 2029
Total$13,058