Heard on the Street: As consumers cut the cord, the main reason to stick with cable is sports. But that could change as tech companies enter the bidding war for sports broadcasting rights.
As consumers cut the cord in favor of Netflix and Hulu, and legacy media companies launch streaming platforms of their own, the main reason to stick with cable is sports.
Live sports are maintaining viewer numbers, for the most part, and supporting the $70 billion TV ad industry in the process. When 21st Century Fox sold off its film and TV studios, it bet that a smaller Fox, stripped down to news and sports, would be more competitive in the new media world.
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