Morning Tony could these people be part of our next move?
Streaming Services Could Continue to Grow
Although other video content providers are taking a hit, total spending on subscription streaming services is expected to grow to $38 billion through 2024. Specifically, the market for virtual cable services such as AT&T Now (T) and YouTube TV (GOOGL) is expected to more than double, increasing from $6 billion in 2019 to $13 billion in four years.
Netflix (NFLX) in particular could be a company to watch. The streaming platform could reach 70 million subscribers by 2024. Amazon Prime (AMZN), Hulu, and Disney+ (DIS) are also expected to grow and to reach 65 million, 58 million, and 53 million subscribers, respectively.
Although coronavirus lockdowns caused more consumers to fill their time at home with video content, the industry may have reached a tipping point. Moreover, only certain segments of the hyper-competitive sector look set to outperform going forward. It will be crucial to assess a specific company's offerings and business plan, especially as it relates to the future of the industry, before investing.
