Australian media in 2026

We're kicking off Frequency with a look at the big trends and changes impacting Australian media in 2026.

Mergers and acquisitions

Dominating the first part of the year will be the unfolding merger between Seven West (SWM) and Southern Cross (SXL) which formally closes today, January 7. The deal cleared most potential stumbling blocks before Christmas. The competition regulator announced in November it would not oppose the merger because they do not compete in the same ad markets. Likewise, media regulator ACMA has given approval for the transaction on the basis that Southern Cross sells a handful of commercial radio and television licenses in Mt Isa, Roma, Mildura and Bunbury within 12 months. Seven shareholders voted to approve (despite some pushback from Southern Cross investors) on December 22, followed by a NSW Supreme Court approval on December 23.

A less-groundshaking but nonetheless impactful move sees Nine Entertainment likely to offload its radio assets (AM talkback in Sydney, Melbourne, Brisbane and Perth) after bidding closed in December. Nine also recently sold Domain, meaning the business is flush with cash ready for new internal capability investments or acquisitions elsewhere in media and entertainment. It remains to be seen what might be on the shopping list. 

Looking internationally, Netflix picking up Warner Bros. has the potential to shift streaming habits and subscriptions here but will otherwise have limited impact. The launch of HBO Max (owned by Warner Bros.) last March already hurt the Australian streaming service Binge (owned by Foxtel), for which HBO content was a major draw. Since the Max launch, and after parent company Foxtel was purchased by international streamer DAZN in April, the division that runs Binge and sports streamer Kayo has seen a raft of layoffs. If this happens, I expect Max will eventually be pulled out of the market, leading to further consolidation of Netflix’s position as the country’s largest streamer. 

That said, if Warner Bros. is instead acquired by Paramount, which owns Channel 10, we could see streaming competition heat up with a merger of HBO Max and Paramount+ sitting alongside free-to-air catch up TenPlay. The Paramount bid includes news services CNN and CBS and other businesses that Netflix is not interested in but would augment Ten News nicely and potentially help to underwrite the ailing network's future.

Legislation 

The government remains interested in further regulating digital and social media giants after the introduction of the social media age restrictions rules and consultation on a proposed news bargaining incentive, both in December. The former appears to have been relatively successful, with limited pushback after introduction despite a High Court challenge to its constitutionality, which itself will play out over the next few months. The latter aims to encourage social media companies back to the bargaining table with the aim of sharing their revenue with local media publishers and will no doubt encounter more pushback from those companies and potentially the US Government. I’ll take a closer look at the impact of both of these in the coming months. 

The Albanese government is also pushing ahead with Australian content quotas on streaming platforms. The legislation was passed in November but the streamers have three years to get their production ducks in a row, which makes sense given television production schedules. Expect 2026 to feature more news on how they intend to meet the quotas including, perhaps, announcements of new shows and content.

Finally, December’s terrorist attack in Bondi Beach, other antisemitic attacks, and rising gun violence generally will spark the government into action on a range of fronts. While gun laws were under the microscope very quickly after the attack, I expect media and social media laws will also be considered this year. 

Audio

In September, the commercial radio industry was shocked by news of the cancellation of the longstanding annual Australian Commercial Radio Awards (think the Logies, but featuring the likes of Kyle Sandilands and Hamish and Andy instead of Sam Pang and… well, Hamish). 

But a number of players including Mumbrella have pulled together for the first Australian Audio Awards including radio and podcasting across the spectrum from commercial to public broadcasters and independent producers. The change demonstrates the continued convergence of the traditional radio medium with newer technologies, even as the field of podcasting itself is increasingly muddled by video-first shows on the likes of YouTube, Spotify, and even Netflix. 

Research does consistently show Australians spend more time year-on-year with audio content, whether through traditional terrestrial broadcast, digital broadcast, podcasting, or streaming. It is difficult to get good numbers on just what kinds of podcasts and music Australian audiences prefer - especially as the world’s largest podcasts are conspicuously absent from the local industry rankers - but that is something I am planning to work on this year. 

Frequency is a fortnightly newsletter of analysis on the Australian media industry.