Credit Suisse downgrades old guard media companies, sees pay TV decline, rise of streaming services

“Credit Suisse has downgraded a number of media company stocks, including those from Disney, Time Warner, Viacom, and News Corp. over concerns that cable and satellite–‘pay TV’–subscriber numbers will drop as we see a rise in more affordable streaming services from Apple, Google, and Netflix,” ubergizmo reports.

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“Credit Suisse is also upgrading its estimates for Netflix’s stock price,” ubergizmo reports. “According to CNET, Credit Suisse finds that nearly 30 percent of Netflix subscribers between the ages of 25 and 34 are watching Netflix exclusively [instead of] pay TV and that 17 percent of overall Netflix users have dropped pay TV all together.”

Full article here.