Investors eyeing media stocks battered during the coronavirus pandemic from a TV ad recession and cord-cutting should tune into the streaming opportunities of TV networks for potential earnings growth, Morgan Stanley analyst Benjamin Swinburne argued Tuesday.
Hollywood's escalating streaming wars is being led by Netflix, Amazon Prime Video, Disney+ and Apple TV+, while new and established players are also looking to nab their own share of global online TV subscriptions. Discovery last year also struck a deal with the BBC for natural history and other factual programming, which will help power a new global subscription VOD service set to launch this year, while also signing a strategic alliance with the PGA Tour to create a global home for golf fans, which includes video streaming service GolfTV.
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