During an interview on "Mornings with Maria," Friday, Wedbush Securities managing director Dan Ives analyzed a new report from Nielsen that in the month of July streaming services had more viewers than cable TV, making streaming the most popular way to ingest content for the first time in history.
DAN IVES: I think it's sustainable. I mean, look, you're seeing a streaming arms race that's going on, but it really comes down to content. And I think you're starting to see a tipping of the hand here in terms of where it's going. You're going to see upwards of $40 to $50 billion potentially spent as it goes forward.
And I think this is a shot across the bow of traditional media. And I think the other variable is what's going to happen in sports content more and more. That's really going to be up for grabs. Apple, Amazon and others going after it.
WATCH THE FULL INTERVIEW HERE: