This presentation outlines the latest trends in content acquisition and licensing, with a special focus on the relationship between US studios and broadcasters (and their streaming services). Are studios willing to license more content to broadcasters? Is studio-broadcaster co-production and co-exclusivity increasing or decreasing? Is more studio-made content appearing on free-to-air ahead of (or at the same time as) Pay TV or subscription streaming? Do broadcasters have enough room on their linear schedules for US studio catalogues, and do expanding BVOD services seek more of this content to drive engagement? We hear the answers, and ask whether free-to-air visibility funnels viewers towards studio streaming services as a by-product of deals.