At the same time, legacy media companies face off against another well-known demon: cord-cutting.
Technology companies such as Apple and Amazon can lean on their respective hardware and e-commerce businesses, said Paul Fanelli, a research analyst at Gabelli Funds.
Even so, Wall Street sees only a handful of pure-play winners in the TV and streaming space winning consumer attention over the long run.
Already, the technology companies have shown some promise.
Consumers are increasingly forgoing pay TV packages from cable companies and opting for bundles from companies like Alphabet, he said.
Persons:
Rosenblatt, Barton Crockett, It's, Netflix's, Ken Leon, Hollywood's, Leon, Jamie Lumley, Paul Fanelli, it's, Apple's, Amazon's, That's, Needham, Laura Martin, Martin, —, John Hodulik, CNBC's, bode, Crockett, NBCUniversal's Peacock, Brandon Nispel, Nispel, Disney's hasn't, Fanelli, that's
Organizations:
Netflix, Apple, Paramount, Sky, Third, Gabelli, Warner, UBS, ESPN, Fox, NFL, Hulu, YouTube, KeyBanc, Comcast, Disney, Warner Bros, Max, DIS, Rosenblatt, ABC, Nexstar, CNBC
Locations:
France, United Kingdom