How market judges streaming service success: Disney, Apple, Netflix - Business Insider

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After the Disney Plus and Apple TV Plus launches, Wall Street analysts sketch out how the market will judge success for streaming services

But success in streaming video is going to look very different in 2020 and beyond than it did when Netflix, Amazon, and Hulu first dominated the landscape, analysts at Cowen wrote in a note on November 20.

But streaming companies with high valuations like Netflix will also be judged on different values and metrics than traditional media companies entering the streaming fray, like AT&T and Discovery; and tech companies like Apple that use streaming to draw people into their broader ecosystems.Netflix and Disney both have huge market valuations today — $134 billion and $267 billion respectively — thanks to their streaming initiatives.

These companies will need to prove that they can build scaled and profitable business that continue to satisfy investors' desire for subscriber growth — while their pricing power and content spending is threatened by new rivals. "Those media companies unable to successfully address those issues may have to seek a partner or get squeezed out of the ecosystem entirely," Cowen wrote.

Lastly, we have tech companies like Apple and Amazon Prime Video, for which streaming is merely a tool to lure people into their broader device and services ecosystems.

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