The most common and most likely answer to this crossword clue is the 7 letter word VIEWING
I've seen this crossword clue in The Guardian
V
I
E
W
I
N
G
Buddy explains!

The straight part
We know that "watching" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case watching = viewing.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does VIEWING mean?
VIEWING verb- To look at.
- To regard in a stated way.
- An instance of viewing something.
- A wake.