Stephen ‘Steve’ Burke, president and chief executive officer of NBCUniversal.
David Paul Morris | Bloomberg | Getty Images
The streaming wars — the race to launch subscription video products — has been driven by an underlying concept: The traditional pay-TV bundle is dying as millions of U.S. households cut the cord each year and shift their video consumption to services like Netflix.
This has been a hard pill to swallow for legacy media companies, which derive billions of dollars from traditional pay TV. Yet, many of those media companies are coming to grips with reality and beginning to disrupt their own business models, headlined by Disney‘s $6.99 Disney+ offering for this…
Source cnbc.com