“The upcoming arrival of services like Disney+, Apple TV+, HBO Max, and Peacock is increased competition, but they are still small compared to linear TV … In our view, the likely outcome from the launch of these new services will be to accelerate the shift from linear TV to on demand consumption of entertainment. Just like the evolution from broadcast TV to cable, these once-in-a-generation changes are very large and open up big, new opportunities for many players.”
