Good Morning Media!

Research evidence excerpt

Good Morning Media!

Equity Research

Industry Update — May 14, 2026

Media

Our Call Steven Cahall

Good Morning Media! is our daily take on the relevant newsflow affecting the Media & Equity Analyst | Wells Fargo Securities, LLC

Steven.Cahall@wellsfargo.com | 212-214-8240

Cable sectors.

Omar Mejias

Equity Analyst | Wells Fargo Securities, LLC

3rd and goal. NFLX expanded its NFL partnership with a 4-year extension through '29, Omar.Mejias@wellsfargo.com | 787-370-9353

adding 3 additional regular-season games (Week 1 international (Aus.), Thanksgiving

Eve, Week 18 regular season finale) on top of existing Christmas Day games, bringing its

annual total to 5 games. The deal also includes exclusive rights to the NFL Honors awards

show. Last year's Christmas game between Minnesota and Detroit drew 27.5mm viewers

on NFLX, the highest-streamed regular season game ever. (Source: THR)

Max power. Fiber subs' median data usage is >3x (peak 3.6x at 6pm) that of DOCSIS subs'

usage during peak hours, according to OpenVault. Median downstream fiber usage is

1.346GB for fiber and 0.456GB for DOCSIS. Also, >33% of fiber users consume >1TB of

data per month (vs. 25% DOCSIS users). Aispire data shows that ChatGPT, Copilot and

other agenticAI workflows represent the dominant upstream category at 15-16% of

upload volume and 25% of upload traffic at the 1 Gbps+ tier. (Source: OpenVault)

Avengers assemble! T, VZ, and TMUS are planning a joint venture to deploy satellite-

based D2D connectivity, pooling together IP and spectrum to reduce U.S. coverage gaps.

The initiative targets rural/remote dead zones, improves network resilience, and creates

a shared platform for satellite partners. For customers of all three carriers, this means a