An updated edition of the July 22, 2026 article.

Streaming has moved beyond the race for subscriber additions and is increasingly becoming a contest for engagement, advertising dollars and content discovery. The shift is visible in viewing trends. Nielsen reported that streaming captured 48.2% of U.S. ad-supported TV viewing in the second quarter of 2026, widening its lead over cable and broadcast. This underscores how connected-TV platforms are gaining importance for both audiences and marketers.

Against this backdrop, Alphabet Inc. (GOOGL Quick QuoteGOOGL - Free Report) , Amazon.com, Inc. (AMZN Quick QuoteAMZN - Free Report) and Sony Group Corporation (SONY Quick QuoteSONY - Free Report) warrant attention as streaming develops into a broader ecosystem spanning distribution, advertising, premium programming and direct-to-consumer services. Their varied exposure provides investors with different ways to participate in the migration of viewing time and ad spending toward digital video while also benefiting from demand for differentiated entertainment experiences.

Live sports should remain a major catalyst for engagement. Gracenote data showed sports offerings across five leading subscription streaming services jumped 52% year over year in February 2026. FAST is also expanding rapidly, with individual sports games and events distributed across free ad-supported streaming services rising 37.5% year over year in the third quarter, highlighting the growing importance of sports beyond traditional pay-TV.

The outlook remains constructive as connected-TV usage, ad-supported services and global appetite for premium and niche content expand. Artificial intelligence is also becoming increasingly important across the streaming value chain, helping platforms improve content recommendations, audience targeting, ad placement and production efficiency. However, higher sports-rights and programming costs, intense competition, subscriber churn and fragmented viewing habits could pressure returns. Companies that combine compelling content with AI-driven personalization, broad distribution and stronger advertising monetization should be better positioned as the industry matures.

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Amazon’s streaming journey began with Unbox in 2006, followed by unlimited Prime streaming in 2011. Today, Prime Video has evolved into an entertainment platform spanning originals, licensed programming, live sports, rentals, third-party subscriptions and more than 900 U.S. FAST channels. 

The investment case has strengthened as Prime Video moves beyond being a Prime-retention tool. CEO Andy Jassy said in May 2026 that the business is growing, profitable and still early, suggesting room to expand engagement and monetization over time. 

Live sports should remain a major growth driver. Prime Video carries NFL Thursday Night Football, NBA, WNBA, NASCAR, the Masters and other rights across markets. These events attract viewing, while Amazon’s shopping, browsing and streaming signals can make advertising inventory more measurable and valuable. 

Content ownership adds another layer of strength. AMZN expanded its content ownership, most notably through the $8.45 billion MGM transaction. MGM brought more than 4,000 films and 17,000 TV episodes, while Amazon MGM Studios now has creative control of James Bond. A larger theatrical pipeline can eventually feed Prime Video and could lower dependence on licensed hits over time. 

International expansion adds further upside for this Zacks Rank #2 (Buy) company. Amazon is integrating MX Player into Prime Video in India and plans to invest more than $2 billion in Latin America from 2027 through 2030. Combined with sports, owned franchises and commerce-linked advertising, Prime Video looks positioned to become a larger long-term profit engine. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Sony’s streaming history stretches back to 2006, when Sony Pictures acquired video site Grouper. Its current direct-to-consumer strategy expanded through SonyLIV in India, Sony’s 2017 acquisition of Funimation and the 2021 purchase of Crunchyroll, which became Sony’s global anime-streaming platform.

Crunchyroll is now the strongest growth engine in Sony’s streaming portfolio. Paid subscribers surpassed 21 million by March 2026, and Sony said in July that subscriptions continued growing beyond that level. This momentum shows the service still has room to add paying users. 

The addressable market remains large. Sony estimates more than 1.5 billion online streaming viewers were watching or interested in anime in 2025 across measured markets, with penetration still low. This creates a long runway for Crunchyroll to convert more anime viewers into recurring subscribers worldwide. 

The platform is also becoming more competitive as its streaming library expands. By March 2026, Crunchyroll offered more than 50,000 episodes, subtitled and dubbed in 13 languages. A deeper, localized catalog should support discovery and retention while making the service more relevant internationally. 

For investors, Sony’s streaming thesis is attractive. Crunchyroll combines subscriber momentum, low penetration and a broad international catalog, while SonyLIV adds a general-entertainment streaming presence in India. Together, these services give Sony multiple paths to expand recurring digital revenues and build a larger streaming business over time. SONY holds a Zacks Rank #2.

Alphabet’s streaming roots trace to Google’s 2006 acquisition of YouTube, launched a year earlier. YouTube has since evolved from a user-video site into a broad platform spanning long-form video, Shorts, music, livestreams, connected-TV viewing, subscriptions and live sports.

The biggest long-term advantage is audience scale across screens. Nielsen reported YouTube at 13.8% of total U.S. TV watch time in June 2026, still the largest media distributor. Shorts also averages more than 200 billion daily views, feeding discovery across YouTube’s wider content ecosystem.

Monetization is becoming more diversified. YouTube generated more than $60 billion from advertising and subscriptions in 2025, while management said in second-quarter 2026 that subscriptions are growing faster than ads, led by YouTube Music and Premium. This adds recurring revenues while preserving a powerful advertising engine.

YouTube TV strengthens the thesis further. In 2026, Alphabet rolled out more than 10 lower-priced specialized plans, added ESPN Unlimited directly to YouTube TV on Sept. 1 and expanded Peacock availability through Primetime Channels. Primetime Channels now offers more than 45 services.

YouTube is positioned as both a destination and an aggregator. Its creator supply, living-room reach, sports, subscription options and partner catalog reinforce one another, giving Alphabet several ways to capture rising streaming time and spending. This supports a durable growth runway for GOOGL. It carries a Zacks Rank #3 (Hold).