An updated edition of the Sept. 9, 2026 article.

Streaming is evolving into a content-driven battleground as platforms compete to attract viewers through exclusive originals, live sports, movies and niche programming. Growing demand for on-demand entertainment and flexible viewing options continues to reshape content consumption. Nielsen reported that streaming accounted for 49.6% of total U.S. television viewing in August 2026, highlighting its expanding audience reach.

Against this backdrop, Alphabet Inc. (GOOGL Quick QuoteGOOGL - Free Report) , Sony Group Corporation (SONY Quick QuoteSONY - Free Report) and Fox Corporation (FOXA Quick QuoteFOXA - Free Report) deserve investors' attention. Their presence across streaming content, digital distribution and entertainment services positions them to capitalize on evolving consumer preferences and the growing demand for diverse programming.

Live sports, premium originals and free ad-supported streaming television (FAST) are becoming important growth catalysts, helping platforms expand viewership and deepen engagement. Gracenote reported a 37.5% year-over-year rise in individual sports games and events distributed across free ad-supported streaming television services, underscoring expanding content opportunities.

Advertising monetization is also gaining traction. The Interactive Advertising Bureau projects U.S. connected-TV advertising spending to rise 15.6% in 2026, reflecting growing advertiser interest in streaming audiences.

Looking ahead, expanding content libraries, international viewership and AI-powered content discovery should fuel streaming growth. Although rising content costs and competition remain challenges, stronger advertising monetization, diversified revenue streams and improving viewer engagement could support sustained growth and create attractive investment opportunities.

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Sony Group Corporation entered online video through its 2006 Grouper acquisition and later rebranded the service as Crackle. SonyLIV launched in 2013, while its acquisitions of Funimation and Crunchyroll in 2017 and 2021 sharpened Sony's focus on anime and targeted streaming audiences. 

Crunchyroll now anchors that strategy, reaching more than 21 million paid subscribers by March 2026. Its catalog exceeds 50,000 episodes, with subtitles and dubbing across 13 languages. This scale gives Sony room to attract international fans, increase engagement and build recurring subscription income. 

Another advantage lies in Sony's anime ecosystem. Aniplex develops and produces popular titles, while Crunchyroll connects them with worldwide viewers. Sony is strengthening ties with creators and publishers, supporting a richer content pipeline that could improve subscriber retention and broaden monetization through fan experiences. 

Beyond subscriptions, this Zacks Rank #2 (Buy) company benefits from licensing films and television programs to other streaming platforms. Its expanded Netflix agreement will gradually extend worldwide, with full availability expected in 2029. This balanced approach can grow streaming-related revenue without the high costs of competing as a general-purpose streamer. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Fox Corporation entered subscription streaming with FOX Nation in 2018. Its 2020 purchase of Tubi added a free, advertising-supported service, while the 2025 launch of FOX One brought live news, sports and entertainment to streaming viewers. These services address different viewing needs.

Tubi has 110 million monthly active users, giving Fox an audience for digital advertising. Its catalog and creator-produced series could support longer viewing times. Management expects Tubi's profit margin to reach roughly 20% once the service matures.

FOX One offers live programming without requiring a traditional television subscription. Management said approximately 97% of new subscribers lack cable service, indicating that Fox is reaching households. Bundles with FOX Nation, ESPN and Crunchyroll could improve distribution, although subscription demand may vary with sports seasons.

Fox's proposed Roku acquisition could improve distribution, content discovery and advertising targeting through Roku's connected-TV platform. If completed, the acquisition would give Fox more access to streaming households and opportunities to increase advertising revenue. FOXA holds a Zacks Rank #2.

Alphabet’s streaming roots trace back to YouTube’s 2005 launch and Google’s subsequent 2006 acquisition. What started as a home for uploaded clips now spans long-form video, Shorts, music, live programming and YouTube TV, introduced in 2017. These formats now reach distinct audiences.

Living-room viewing is becoming an advantage. Nielsen reported YouTube accounted for 15.8% of U.S. television viewing in August 2026, leading media distributors. Its base of independent creators keeps programming fresh without relying entirely on expensive studio productions, supporting audience engagement and advertising demand.

Subscriptions provide a second growth engine. YouTube Music and Premium together surpassed 150 million subscribers worldwide, including trials. YouTube TV now offers targeted channel plans, ESPN Unlimited and NFL Sunday Ticket, giving sports fans options beyond cable. The wider selection could support retention and steadier subscription income.

Looking ahead, customizable feeds, episodic Shorts and improved creator tools should make discovery and production easier. As audiences spend more time streaming on televisions, Alphabet can capitalize on longer watch time, growing advertising demand and wider subscription adoption, supporting steady streaming growth. GOOGL carries a Zacks Rank #3 (Hold).