Media investor Jeff Sagansky predicted that the top four streaming companies are on the precipice of “great profitability” and have effectively formed a new entertainment oligopoly, even though dropping stock prices tell a different story.
“We are in the last stages of the formation of a new oligopoly, which is going to dominate TV and film consumption for at least the next decade,” Sagansky said of streaming giants Netflix, Disney/Hulu, Amazon and Max. “Together, these four streaming services are on the brink, I believe, of great profitability. Even if this transition has been hard – they all complain – but I think they’re on the verge of great profitability.”