The streaming wars have turned into a brutal battle of attrition, with services launching, merging, and folding under the weight of endless content costs and subscriber churn. After years of consolidation, Netflix (NASDAQ:NFLX | NFLX Price Prediction) and Disney (NYSE:DIS) stand as the two dominant players, commanding the lion’s share of eyeballs and market cap. Paramount Skydance (NASDAQ:PSKY) could emerge as a serious threat if it seals a deal to acquire Warner Bros. Discovery (NASDAQ:WBD), blending libraries for scale.
Yet Netflix and Disney hog the spotlight for good reason — their vast catalog and IP firepower keep users hooked amid cord-cutting chaos. But are investors overlooking a sleeper streaming stock that’s crushing Disney’s growth and matching Netflix’s pace in 2025?
More Than Just News Headlines
Fox (NASDAQ:FOXA)(NASDAQ:FOX) is best known for its cable news dominance, but its streaming arm is quietly building momentum. At the core is Tubi, the free, ad-supported platform that’s exploding as a viewer magnet.
Tubi has surged past 100 million monthly active users in fiscal 2025, pulling in eyeballs with a library of over 300,000 movie titles and TV shows. It enjoyed 13% year-over-year growth in total view time. Ad revenue spiked 31% from last year, fueled by Fox’s bold move to stream the Super Bowl on Tubi alongside broadcast TV. The event drew a record 127.7 million viewers — Tubi had 24 million unique viewers — supercharging ad rates and proving free access can rival paid models for live spectacles.
Political ads have added rocket fuel, especially with the 2026 midterms looming. Campaigns poured $2 billion into streaming spots this cycle, and Tubi’s broad reach — spanning urban millennials to rural boomers — made it a prime target. This tide lifts all ad boats, but Fox benefits most from its neutral positioning amid polarized media.
Thanksgiving Touchdown for Tubi
Fox just upped the ante by announcing Tubi will air the Thanksgiving Day NFL game this November, pitting the Detroit Lions against the Green Bay Packers. Exclusive streaming rights aim to replicate Super Bowl buzz, targeting families ditching cable for holiday football. Analysts project a 40% viewer bump, translating to premium ad inventory sales at $500,000 per 30-second spot.
Tubi’s free model dodges the subscription fatigue plaguing rivals. Disney, for example, just hiked Disney+ prices for the fourth time in four years. The ad-supported plan will increase on Oct. 21 by $2 to $11.99 a month while the ad-free premium plan will go up by $3 to $18.99 a month.
Netflix faces similar grumbles over tiered plans, but Tubi thrives on zero barriers — users binge without commitment.
A Fast Start in a Crowded Field
Beyond Tubi, Fox launched Fox One in August, a premium service bundling sports, news, and originals for $19.99 monthly. It hit 1 million subscribers in just 10 days, mirroring Disney’s revamped ESPN rollout but on a leaner scale.
That’s still a long way away from the estimated 312.5 million Netflix ended Q2 with, yet it’s a win in a sector bleeding cash. Fox’s streaming services are profitable, thanks to targeted sports rights and minimal legacy bloat.
Fox’s portfolio offers synergies: Tubi funnels free users to Fox One upgrades, while cross-promos with Fox Sports boost engagement. This under-the-radar ecosystem props up the parent company, with streaming accounting for a growing percentage of Fox’s $16.3 billion annual revenue. Tubi alone generated $1.1 billion in ads last year, outpacing many paid services.
The Streaming Underdog Bites Back
Fox has morphed from broadcast relic to streaming contender, leveraging live events and ad smarts where Netflix and Disney stumble on content sprawl. Its services aren’t flashy flagships; instead, they’re efficient cash machines that shield Fox from Hollywood’s volatility.
With targeted acquisitions like regional sports networks, Fox is fortifying a moat around live TV — the streaming holy grail.
It’s paying off, too. Tubi saw 13% year-over-year growth in total view time in fiscal 2025.
Key Takeaway
Netflix risks hitting subscriber saturation, something critics have expected for years but it is now echoing louder with global penetration at 70%. Disney+ risks alienating its subscribers via relentless hikes and a box-office slump — 2025’s slate of Marvel flops and Pixar underperformers tanked theatrical returns by 15%, adding to a string of bombs in 2024.
Fox, meanwhile, is the ascendant force: a sprawling media empire from news to sports, with streaming growth at 35% year-over-year and shares trading at a P/E of 13 — below Disney’s 17x and a third of Netflix’s 50x. It’s the undervalued buy for patient investors eyeing the next wave.
Top Gaining Stocks
Top Losing Stocks