The age of connected television (CTV) has arrived, and I’m here to break down what's really happening. Right now, more people than ever are streaming video content on their TVs instead of watching shows on cable or broadcast channels. It's a big deal - for the first time in history, streaming has edged out traditional TV in the U.S., with nearly half of all TV time now devoted to streaming. In other words, millions of households are firing up Netflix, YouTube, and other apps on their smart TVs or streaming devices instead of just channel-surfing like they used to.

It's a clear sign that the power dynamics in entertainment are shifting, which raises a provocative question: if streaming is the new normal, who's poised to benefit the most—traditional “big media” giants or the independent “indie” creators who rose to fame on platforms like YouTube? 

I want to examine this question with a straightforward, first-person perspective. I've been paying close attention to the tug-of-war between big media companies (think Disney, Netflix, Warner Bros. Discovery, Apple, Paramount, and the like) and independent creators (the YouTube stars, small studios, Twitch streamers, and digital-first media startups). Both groups are racing to capture our attention (and our subscription dollars or ad views) in the booming CTV landscape. 

So let's explore the current trends, the opportunities and risks facing each side, and what the future might hold. This isn't just a simple story of Davids vs. Goliaths; it's a multifaceted battle where the rules are still taking shape. 

 Let's jump in! 

Cutting the Cord: Streaming’s Massive Surge. Over the last few years, nearly everyone I know has “cut the cord.” In the United States and many other parts of the world, people are ditching traditional cable in favor of connected TV - watching video through internet-connected devices and smart TVs. The result? Streaming is now the dominant way many of us watch TV. By mid-2025, streaming services captured roughly 45% of total TV viewing time in the U.S., surpassing the combined share of broadcast and cable for the first time ever.

Put simply, Americans are spending more time on Netflix, YouTube, Disney+, Hulu, Max, and Amazon Prime Video than on all the old-fashioned TV channels combined. This milestone highlights just how mainstream connected TV has become. 

This seismic shift in viewing habits didn’t happen overnight. The global pandemic in 2020 gave streaming a turbo boost, as lockdowns pushed people to sign up for new services and binge on content at home. Then came a flood of new streaming platforms. Starting with Disney+ in late 2019, nearly every major Hollywood studio - from Warner Bros. to NBCUniversal and Paramount - launched its own streaming service, each hoping to become the next Netflix and not be left behind. Outside the U.S., viewers in Europe and emerging markets have also embraced streaming, although the pace differs by region. In places like the UK or Canada, it’s common to have multiple streaming subscriptions; in countries with limited broadband or heavier reliance on mobile internet, connected TV is growing but still catching up.

The big picture, though, is global: connected TV is where the growth is. In 2024, digital video advertising (including CTV and online video platforms) even surpassed traditional TV advertising for the first time in history. Advertisers now allocate nearly as much to streaming and online video as to old-school linear TV - a radical shift from just a few years ago. 

Rise of Free Streaming Platforms (FAST and AVOD). Streaming’s surge isn’t only about paid subscriptions; the explosion of free, ad-supported options is a huge factor. Services like Pluto TV, Tubi, The Roku Channel, IMDb TV (Freevee), and Samsung TV Plus have pioneered what the industry calls “Free Ad-Supported Television,” known as FAST channels. These mimic the classic channel-surfing experience of traditional TV - continuous streams of programming, often themed by genre - but cost nothing to watch because they’re funded by ads.

FAST services were once seen as a dumping ground for reruns, but no more. By 2025, they’ve become some of the fastest-growing platforms on connected TV, attracting tens of millions of monthly viewers and large slices of ad spending. Case in point: Fox’s Tubi and Paramount’s Pluto TV now report around 80–100 million active users each, generating about $1 billion+ in annual ad revenue per platform. This underscores a huge viewer appetite for free content, especially as people tire of juggling and paying for multiple subscriptions. 

Implications for the Audience. For us viewers, the connected TV gold rush means more choice than anyone can keep track of. The downside is obvious: too many services, too many apps, and sometimes choice overload. The upside, though, is unprecedented control over our media diet. We can mix a few paid streaming subscriptions (for the latest prestige dramas, movies, and live sports) with a buffet of free channels and on-demand content (for background TV, niche interests, and casual watching).

Because everything lives on the same screen, CTV has leveled the playing field in the living room: I can watch a big-budget HBO or Netflix series at 8 p.m. and then seamlessly switch to a YouTube travel vlog or a TikTok compilation on that same TV by 8:30. The old barriers between traditional media and internet-born content have basically dissolved. That’s why the question of “Big Media vs. Indie Creators - Who Wins?” is so interesting: on connected TVs, they’re now side by side, fighting for the same screen space and the same audience attention. 

When I talk about “Big Media,” I mean the major studios and entertainment conglomerates - Disney, Warner Bros. Discovery, Netflix, Amazon, Apple, NBCUniversal, Paramount, and so on - with massive budgets, global distribution, and decades (sometimes a century) of content creation under their belts. The CTV boom has been a huge opportunity for these giants, but also a forcing function for serious change. 

The “Streaming Wars” and a New Playbook. The last few years saw Big Media companies embark on aggressive digital expansions in what became known as the streaming wars. Netflix, once the only giant of subscription streaming, suddenly had competition at every turn. Disney pulled its content off Netflix to focus on Disney+, quickly amassing over 150 million subscribers globally. WarnerMedia and Discovery merged and combined HBO Max and Discovery+ into Max. NBCUniversal launched Peacock.

Paramount Global pushed Paramount+ and acquired Pluto TV. These moves required astronomical content investments: some estimates put combined 2024 content spend by the top 12 media companies at around $210 billion (led by companies like Comcast/NBCU, Google’s YouTube, and Disney). These budgets are a double-edged sword: they bankroll must-watch hits (The Mandalorian, Stranger Things, Game of Thrones, live NFL games on Amazon, etc.), but also add enormous pressure to achieve profitability. 

Strengths of the Goliaths. Big Media still has clear advantages. They own deep libraries of iconic IP and beloved franchises (from Star Wars and Marvel to Harry Potter and the NFL). If you want to stream The Mandalorian, you need Disney+; if you want Stranger Things, you need Netflix; for Yellowstone, you need Peacock. These franchises and exclusive must-see originals draw huge audiences that independent content generally can’t match. Big Media also has global scale and marketing muscle.

They can launch new platforms or content worldwide, dubbing and subtitling in dozens of languages, and promoting them with massive advertising campaigns. They still produce the highest-budget “event” content too - giant fantasy series, Oscar-winning films, and live sports or news - which attract broad demographics that many creator-driven shows can’t. 

Legacy Baggage & Profit Pivots. But being a behemoth has drawbacks in the CTV era. Large media companies often move more slowly and carry legacy businesses (like cable channels, theatrical distribution, theme parks) they need to protect even as they pour resources into streaming. The initial phase of the streaming wars was extremely expensive, with few companies turning a profit. By 2022–2023, investors started demanding profits instead of pure growth.

Big Media had to adapt: we’ve seen widespread cost-cutting and strategy changes - raising streaming prices, offering discount ad-supported plans (nearly every major streamer now has a cheaper tier with ads), canceling underperforming projects, and even licensing out some content to competitors or FAST services to recoup costs. In late 2024, a few top streamers like Netflix and Disney+ finally reported their first quarters of positive operating income in streaming. But margins are thin, and these companies must balance meeting Wall Street’s profit expectations with continuing to invest in content to keep subscribers engaged. 

Structural Challenges & Change. Big Media’s pivot to streaming is still a work in progress. They face a crowded marketplace with too many services competing for subscriptions - which has led to consumer fatigue and more “churn” (people canceling and resubscribing when new seasons drop). We might see further consolidation or bundling (e.g., the Disney/Hulu/ESPN bundle, or Max adding Discovery’s library). Big Media also wants to have a foot in the booming ad-supported world - that’s why even Netflix now has an ad tier, and why names like Warner Bros.

Discovery and Paramount own FAST outlets or license content to them (e.g., WBD’s deals to put some HBO shows on The Roku Channel and Tubi). The challenge is to capture price-sensitive viewers with ad-supported offerings without cannibalizing their subscription business too much. Another challenge is appealing to younger viewers who are growing up as much on YouTube and TikTok as on Disney Channel or Nickelodeon. Big Media is responding by putting more content on social media, signing popular internet creators to deals (e.g., Netflix’s partnership with YouTuber Ryan Trahan or Disney recruiting TikTok stars for promos), and focusing on big theatrical-style content (like superhero series or prestige dramas) that can cut through the noise. 

In summary, the Big Media giants have ridden the connected TV wave right into our living rooms - but they’ve had to change their approach along the way. They’ve embraced new models (like ad-supported streaming and free channels) that they once eschewed.

They remain incredibly powerful, but not invincible, and they will have to stay adaptable in the face of evolving competition and consumer habits.

Now let’s turn to the independent creators - the scrappy upstarts who built audiences on digital platforms and are now staking their claim on the biggest screen in the house. These range from individual YouTubers and TikTokers to small digital studios and creator-led media brands. If Big Media had to adapt to CTV, indie creators were practically born for it. 

From Phone Screens to TV Screens. One of the most striking trends I’ve seen is how content that started on our phones - YouTube vlogs, TikTok skits, Twitch live streams - is increasingly being watched on our televisions. Every smart TV or streaming device comes with a YouTube app (not to mention often apps for TikTok, Twitch, etc.), and many people, especially younger viewers, now routinely use these apps on their TVs.

Nielsen’s measurements show that YouTube alone accounted for 12.5% of all U.S. TV usage in May 2025, the highest share of any single platform. In effect, YouTube (which is overwhelmingly filled with independent creator content) is now the single biggest “channel” on television by watch time. Likewise, a lot of the content on FAST channels comes from independent or smaller-scale producers - from old movies and TV series acquired from third parties, to digital brands like FailArmy or The Pet Collective, to niche upstart studios and even individual creators who have deals to program channels. 

Why Audiences Love Creators. Independent creators bring strengths that differ from traditional studios. For one, they’re incredibly quick and flexible. A single YouTuber can test a new video format in a week and know by the next week if it resonated (based on comments and views), allowing them to pivot content easily. Big studios can take a year or more to develop a new show. Creators also cultivate personal connections and authenticity that especially engage younger audiences.

Many fans feel they know their favorite creators on a personal level through vlogs, social media interactions, and live chats. There’s a trust and community vibe that is hard for a big network to replicate. Creators also often focus on niche passions with fervent audiences (like ASMR, video game commentary, model building, specific travel or cooking niches, etc.) that traditional TV mostly ignored. On connected TV, nothing stops a viewer from diving into those niche interests on the big screen. 

Scaling Up and Going Mainstream. Some independent creators have grown to a point where they rival traditional celebrities in fame and even in production value. Examples abound: YouTuber MrBeast has built a mini-empire with videos that can cost millions of dollars each, and in 2024 he co-created a competition series called Beast Games for Amazon Prime Video that drew 50 million viewers in its first month (making it one of Prime Video’s biggest shows of the year). Other creators have parlayed their digital success into Netflix comedy specials or hosting gigs on network TV.

At the same time, others have thrived by staying independent, using crowdfunding (Patreon, Kickstarter) and merchandise to fund their work without signing deals with traditional networks. The key is that connected TV has given them wide distribution and legitimacy: watching a YouTuber on your TV now feels as normal as watching a regular show. 

Challenges & Risks for Creators. The independent road isn’t easy. Creators are typically dependent on big tech platforms (YouTube, Instagram, TikTok, etc.) for distribution, which means they’re at the mercy of algorithm changes and policy shifts. A tweak to YouTube’s recommendation system can drastically cut a channel’s views (and ad revenue) overnight. There’s also intense competition: millions of creators are fighting for attention, and the battle for eyeballs on digital platforms is as cutthroat as anything on network TV.

Many creator businesses are volatile, with income from ads and sponsorships fluctuating month to month. Scaling often means a creator must hire a team, manage a business, and pump out content constantly - which can lead to burnout. Not all creators can successfully make that jump from being a passionate individual to running a content company. 

In sum, independent creators have transformed from peripheral figures to a central part of our TV experience. 

They’ve leveraged their agility and audience relationships to carve out meaningful viewership on connected TV. They haven’t “defeated” Big Media - far from it - but they’ve earned a seat at the table. 

No analysis would be complete without acknowledging the new gatekeepers of the connected TV era: the platform and device companies. These include Roku, Amazon (Fire TV), Google (Android TV/Google TV), Apple (Apple TV), and smart TV manufacturers like Samsung and LG. They control the operating systems and app stores on our TVs, and their influence on who gets seen and how money flows is enormous. 

Controlling the Living Room Entry Point. In the U.S., a small number of connected TV operating systems dominate - for instance, Roku’s OS and Samsung’s Tizen OS together are in roughly half of broadband households, with Amazon’s Fire TV and Google’s systems covering much of the rest. These platforms are essentially the new cable box.

They decide which apps are readily accessible (and sometimes which ones get priority placement on the home screen), how universal search works (e.g. whether a search for “comedy” shows Netflix results, YouTube videos, or something on their own free channels), and even how ad revenue is shared. For example, major platforms often negotiate to take a percentage of ad inventory from third-party streaming apps on their devices.

Early on, some streaming services resisted these terms - remember how HBO Max and Peacock weren’t available on Roku or Fire TV at first due to such disputes - but eventually deals got done because neither side could afford to be left out. 

Discovery & Data Control. These platform companies also heavily influence content discovery. If a platform decides to highlight a new show or a particular app on its home screen, that content gets a significant boost. Conversely, if a streaming app isn’t on a popular platform or is buried in the interface, it might as well not exist to most viewers. The platform owners also possess valuable viewer data - they know everything being watched on their devices across all apps.

This information can give them leverage (for example, they might use it to create their own competing content or to negotiate for higher ad splits). 

Implications for Big Media and Indies. For Big Media streaming services, staying on the good side of platform gatekeepers is crucial. We’ve seen some big media players partner with platforms - e.g., many of them promote their shows via free episodes or channels on Roku or Samsung TV Plus to drive sign-ups. For indie creators, the platforms are a double-edged sword.

On one hand, a platform like Roku announcing a special “Creator Hub” (as it did in 2026) is a huge opportunity for top creators to reach millions of new viewers on the TV. On the other hand, smaller creators depend on these platforms’ algorithms to be discovered, and they usually can’t directly negotiate with them the way a big service can. 

The New Power Brokers. In short, these CTV platforms have become key power brokers that can heavily tilt the scales of the “who wins” question. They aren’t exactly picking the ultimate winners, but they influence how easily each side can reach the audience.

A handful of tech and TV manufacturers now control much of the experience - a dynamic to watch, as it continues to evolve (for example, if those platforms start investing more in their own content or channels, it could crowd out third-party players).

Now that we’ve unpacked how Big Media operates in CTV, let’s summarize the key opportunities and risks facing them in this environment: 

Opportunities for Big Media: 

• Massive Scale & Franchises: These companies can leverage their globally recognized franchises (think Marvel, Star Wars, Game of Thrones, etc.) to instantly attract millions of viewers on new platforms or services. Their scale also allows them to launch and support streaming platforms across dozens of countries, giving them a huge potential audience. 

• High-End Production & Event TV: Big Media excels at high-budget, premium content - the kind of spectacular series, films, and live events that few creators can match. They can produce the next Game of Thrones or stream the Super Bowl, drawing massive simultaneous audiences that reinforce their brand dominance. 

• Deep Pockets & Diversified Business: The major media firms often have multiple revenue streams (movies, TV channels, theme parks, consumer products, etc.) that can support their streaming efforts. They can afford large-scale content investments and also weather short-term losses in one area by relying on profits from another. 

Risks for Big Media: 

• Crowded Market & User Fatigue: With so many streaming options, consumers are getting overwhelmed. Many households sign up for a service to watch a particular show and then cancel. Keeping subscribers loyal amid heavy competition is a persistent challenge. 

• High Costs & Profit Pressure: The cost of producing and acquiring exclusive content is extremely high. If subscriber growth slows or churn remains high, these companies face difficulty recouping their investments. They need to find efficiencies and new revenue (like ads) while still funding content that keeps them competitive. 

• Aging Demographics: Some big media brands (like broadcast networks or cable channels) skew older in viewership. Big Media must capture younger, digital-first audiences to ensure long-term success. That may require further adapting content strategies or distribution methods (for instance, more content on social media or free streaming channels). 

• Reliance on Platforms: Big Media services still depend on third-party device platforms to reach viewers. If a platform decides to prioritize its own content (e.g., Amazon pushing its Prime shows on Fire TV devices), it could disadvantage outside services. Negotiating favorable terms with the Rokus and Amazons of the world (and ensuring their apps are easy to find and use on those platforms) is an ongoing risk factor. 

Now let’s sum up the key opportunities and risks for the independent creator side in the connected TV landscape: 

Opportunities for Indie Creators: 

• Direct Fan Relationships: Creators often have a close, personal rapport with their audiences. This loyalty can translate into stable viewership across platforms - fans will follow a favorite creator from YouTube to a podcast to a TV app. Creators can also monetize directly through fans (via Patreon, merch, live events) in ways big media doesn’t. 

• Low Overhead, High Agility: Many creators can produce content at a fraction of the cost of a traditional studio. They can experiment with new ideas quickly and respond to feedback or trends in near real-time. This agility lets them capitalize on emerging topics or formats much faster than a big network. 

• Expanding Distribution: It’s easier than ever for creators to reach the big screen - from the integration of YouTube and TikTok apps on TVs, to deals that allow creators to have segments on FAST channels or licensed to streamers. The gap between “internet content” and “TV content” is closing, giving creators new paths to a wider audience. 

Risks for Indie Creators: 

• Platform Dependence: Most creators rely heavily on platforms like YouTube, TikTok, or Instagram’s algorithms for exposure and revenue sharing. This means their fortunes can change quickly with an algorithm update or policy shift (e.g., changes to how ad revenue is shared or content is promoted). 

• Income Volatility: Revenue from ads and sponsorships can fluctuate month to month. Without the cushion of a large corporate structure, a bad quarter of low ad rates or fewer sponsorships can seriously impact a creator’s business. Many creators mitigate this by diversifying income streams (ads, brand deals, fan subscriptions, merchandise, etc.), but that adds complexity. 

• Discoverability & Competition: The sheer volume of online content is staggering. New creators can find it extremely difficult to break through and get noticed. Even established creators need to continuously produce relevant content to maintain their visibility - the competition never sleeps. 

• Burnout & Sustainability: The pressure to consistently create content (often without breaks, since the internet never has an “off-season”) can lead to burnout. Some creators find themselves trying to do everything - writing, filming, editing, marketing, community management, business development - and that pace is hard to sustain without a support team, which many smaller creators can’t afford. 

In summary, independent creators have unprecedented opportunities to reach audiences and build personal media brands thanks to connected TV and digital platforms.

They can succeed in ways never before possible - but they operate without a safety net and must navigate a rapidly changing digital ecosystem largely controlled by others. 

No conversation about “who wins” would be complete without looking at where the viewers and dollars are actually going: 

Audience Attention. Both Big Media and indie creators are capturing huge amounts of viewing. By mid-2025, overall streaming viewership surpassed broadcast and cable combined in the U.S. (roughly 45% streaming vs. 44% for broadcast + cable). Within that streaming slice, YouTube (full of creator content) and Netflix (full of studio content) were neck-and-neck for the largest individual shares of TV time. Meanwhile, free ad-supported platforms (which feature a mix of older studio content and some digital creator content) together made up about 6% of all TV usage - more than any single broadcast network. 

Bottom line: audiences are spending a lot of time with both premium studio shows and independent creator content on TV, often switching between them fluidly. 

Advertising & Revenue. Advertisers are following these eyeballs. Connected TV advertising is growing at double-digit rates, expected to reach around $26–30 billion in the U.S. by 2025. Who gets those dollars? Both traditional and new players. The major streaming services (Hulu, Max, Disney+, Netflix’s ad tier, etc.) are pulling in plenty of brand dollars. But so are digital platforms hosting creator content. Advertisers no longer see YouTube as just “user-generated videos” - they see it as a must-buy outlet alongside TV networks. In fact, ad industry surveys in 2024 showed that the majority of major advertisers planned to include YouTube in their connected TV ad purchases. 

I’ve heard from industry reports that nearly half of YouTube’s ad views are now on TV screens rather than phones. And on the free ad-supported side, Tubi and Pluto TV are each generating over a billion dollars in annual ad revenue by delivering both old studio shows and new digital content to tens of millions of viewers. All that being said, the reality is Big Media companies still gather the biggest overall revenues - but independent creators are staking their claim, especially as platforms share advertising with them (YouTube paid out over $30 billion to creators over three years) and as creators build diversified businesses around their content. 

Investment & Valuations. Big Media’s streaming efforts have huge backing from investors (think of Disney or Netflix’s market valuations), but the “creator economy” is also attracting investment. Venture capital and even private equity have been backing businesses around creators - from tech tools to multi-channel networks, to outright acquisitions of content studios founded by creators (such as Reese Witherspoon’s Hello Sunshine, acquired for $900 million in 2021, or Kevin Hart’s Hartbeat for $100 million in 2022). 

We’ve also seen new forms of funding for creators themselves, like companies offering advances in exchange for a share of future creator earnings. The financial world clearly sees that independent content is a growing, monetizable part of the entertainment industry - not just a hobbyist niche. 

The key takeaway is that both Big Media and independent creators are pulling in large numbers of viewers and significant revenue, often in complementary ways. 

Big Media still dominates when it comes to high-end content and overall dollars, but indie creators - empowered by new distribution and monetization options - have carved out a sustainable piece of the pie. 

Whenever someone asks “Who’s going to win - Big Media or indie creators?”, I find that the answer isn’t cut-and-dry. In my view, the CTV ecosystem is shaping up to be one of convergence, not total conquest by either side. The future of entertainment on the big screen will likely feature both blockbuster studio content and personal creator-driven content coexisting, often on the same platforms. 

Closer Together. We’re already seeing collaboration and blurring lines. Big Media is learning from the creators - embracing shorter content on social media, using influencers to promote their films, even adapting viral YouTube concepts into TV shows (like Netflix’s “Is It Cake?”, which feels a lot like a YouTube challenge video turned into a game show). Indie creators, in turn, are increasingly partnering with big companies - be it a distribution deal to get their content on a FAST channel, or being cast to host a show, or signing a production deal to create projects for a streamer.

Some of the most interesting content in the coming years might be hybrid forms - shows that mix professional production with user-generated elements, or creators producing content with studio resources while keeping their authentic style. 

Neither Side is Going Away. Big Media is not going to be supplanted by bedroom YouTubers - they have too many resources and still create collectively the bulk of the cultural touchstones. Conversely, creators aren’t going back to the margins - they represent a fundamental shift in how entertainment works and how talent rises. In all likelihood, both will continue to thrive in their domains and also influence each other. I expect more consolidation among Big Media companies (possibly even mergers between some streamers) which will make them only more powerful.

At the same time, new stars will continue to emerge from the creator world, and some will join the mainstream while others remain proudly independent with their own dedicated followings. 

The Real Winner: The Audience. If I have to pick a “winner” in this scenario, I’ll say it’s the viewers. We now live in a world where we can choose between a Hollywood blockbuster show or a no-budget vlog with equal ease, depending on our mood. We can watch live sports one minute and a creator-built video game competition the next. We have more content, more creativity, and more access than at any previous time.

The Big Media vs. Indie Creators face-off isn’t a zero-sum war - it’s a dynamic interplay that’s pushing both sides to innovate and serve us better. 

That means we, the audience, end up with more and better entertainment choices than ever before. 

In the end, the rise of connected TV isn’t leading to a single victor. Big Media and independent creators are learning to coexist and even collaborate on the big screen. 

The media giants have unmatched resources and still command huge audiences with their premium content - but they’ve also been forced to adapt to new consumer habits (embracing advertising, free streaming, and social media). At the same time, indie creators have leveraged digital platforms to reach global audiences and are capturing a meaningful share of our viewing - pushing traditional players to evolve and sometimes partnering with them directly.

The likely future is a hybrid one: more free, ad-supported content alongside premium originals, more big-budget series sitting next to creator-driven channels on your TV menu, and more crossover between mainstream and online-born talent.

The real winners are the viewers, who now have an unprecedented variety of content at their fingertips (and remote controls). In this new age of connected TV, we truly get the best of both worlds.