Welcome back to What I’m Hearing+, live from New Orleans, home of my favorite football team, the Saints, who just drubbed the Patriots 34-0, fomenting all sorts of Bill Belichick intrigue. A few Puck readers in the Big Easy have asked to get coffee, so if you’re around and want to meet up, send me an email.

This week, how the swing back toward studio-streamers licensing their content is primarily benefiting… Netflix, which has the money and scale (and strategy and head start) to beat the competition. But first…

• Max’s Cable Workaround: Tensions are flaring and sternly-worded legal letters flying after Warner Bros. Discovery put live sports on Max, via its new Bleacher Report add-on. As head of global streaming JB Perrette told my partner Matt Belloni on The Town last week, WBD views the move as...