MIC Ride Home: Netflix Furthers Live Push with "The Breakfast Club", Interest in 2030 World Cup; OpenAI Revenue Reached ~$6B in 1Q; NBC Leads Prime-Time Viewing for 2025-26 Season

Research evidence excerpt

MIC Ride Home: Netflix Furthers Live Push with "The Breakfast Club", Interest in 2030 World Cup; OpenAI Revenue Reached ~$6B in 1Q; NBC Leads Prime-Time Viewing for 2025-26 Season

Media, Internet & Communications Daily May 21, 2026

TMT Research Guggenheim

GSTMTResearch@guggenheimpartners.com MIC Ride Home: Netflix Furthers Live Push with "The

Michael Morris, CFA Breakfast Club", Interest in 2030 World Cup; OpenAI michael.morris@guggenheimpartners.com

804 253 8025 Revenue Reached ~$6B in 1Q; NBC Leads Prime-

Curry Baker Time Viewing for 2025-26 Season curry.baker@guggenheimpartners.com

804 253 8029

Charles Wilber RELEVANT, TIMELY OPINION, ANALYSIS AND NEWS FLOW FOR TMT

charles.wilber@guggenheimpartners.com INVESTING

804 335 3977

Latest Research: Taylor Manley

taylor.manley@guggenheimpartners.com SPOT: Morris provides takeaways from Investor Day including landmark AI licensing 804 253 1336 agreement with Universal Music Group.

Grayson Glenn

grayson.glenn@guggenheimpartners.com Key News Flow: NFLX, IHRT, MSFT, GOOG/L, CMCSA, PSKY, DIS, FOXA, UBER,

804 253 8053 UMG.AS, WMG, SPOT, AMZN, SNAP, TikTok, NXST, AAPL

Upcoming Events:

Ticker Price Rating May 26-27: Media Bus Tour (Los Angeles, CA) - Guggenheim Analysts Michael Morris

SPOT 433.32 Buy and Curry Baker will be hosting a series of meetings with company management and

thought leaders.

Please contact your Guggenheim Sales Representative for additional details.

LATEST RESEARCH - SNAPSHOT

SPOT: Morris - Tasty Remix: Power Law Pricing, Premium Growth, UMG Licensing

Underpin Updated Outlook (link) - Spotify hosted its 2026 Investor Day where Co-CEOs

Alex Norström and Gustav Söderström outlined an ambitious long-term vision anchored

by four strategic pillars: power law monetization, multi-player/interactive experiences, AI