On November 14, 2025, Alphabet’s YouTube TV and Disney announced a multi‑year carriage agreement that ended a 15‑day blackout, restoring ABC, ESPN, FX, NatGeo, Disney Channel, Freeform and other Disney‑owned channels to the platform.
The blackout began on October 30, 2025, when a dispute over carriage fees caused the channels to disappear from YouTube TV. During the 15‑day outage, Disney estimated a loss of about $30 million per week in carriage fees, totaling roughly $450 million, while subscribers reported service interruptions and potential churn.
The new agreement brings back the full linear Disney portfolio, adds Disney+ and Hulu bundles to select YouTube TV packages, and allows ESPN Unlimited to be offered at no additional cost to base‑plan subscribers. Subscribers also receive a $20 credit for the disruption, and ESPN Unlimited content is slated for integration by the end of 2026.
Disney’s Q4 2025 earnings showed revenue of $22.5 billion, flat year‑over‑year, and a 3 % increase in full‑year revenue to $94.4 billion. The blackout’s $450 million loss represents a significant, but not catastrophic, hit to the linear network segment, which was already under pressure from cord‑cutting trends.
Alphabet’s Q3 2025 results were a record $102.3 billion in revenue, a 16 % year‑over‑year gain, and operating income of $31.23 billion. Restoring Disney content stabilizes YouTube TV’s revenue stream, supports subscriber retention, and positions the service for higher ad revenue as the platform regains its competitive edge.
Market reaction to Disney’s Q4 earnings was muted, with analysts noting the revenue miss and the blackout’s financial impact as headwinds, while Alphabet’s Q3 earnings were met with positive sentiment driven by record revenue and strong growth across its core segments.
Disney Entertainment co‑chairmen Alan Bergman and Dana Walden said the agreement “reflects our continued commitment to delivering exceptional entertainment and evolving with how audiences choose to watch.” YouTube TV spokespersons added that the restoration “preserves the value of our service for our subscribers and future flexibility in our offers.”
The resolution of the dispute underscores the strategic importance of carriage agreements in the streaming ecosystem, ensuring that high‑profile content remains available to subscribers and that both Alphabet and Disney can protect and grow their revenue streams in a highly competitive market.
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