We're Calling This Ad Name Up to the Bullpen, With a Caveat
Streaming has continued to take share from broadcast and cable and we've got our eye on a beleaguered name.
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As we wait for Fed Chair Powell’s Jackson Hole comments at 10 a.m. ET and what may or may not be said about the near-term course for monetary policy, we wanted to share the latest findings for digital advertising and the video streaming market.
The learnings show streaming continued to take share from broadcast and cable in July. It also shows Alphabet’s GOOGL YouTube remains primed to benefit from the ongoing shift to streaming, with its market share hitting 13.4% in July. We are also seeing Amazon AMZN continue to pick up share as well, hitting 3.8% in July 2025, up from 2.1% in July 2024. We see data supporting expectations for continued growth in higher-margin advertising segments at both companies.
We see streaming continuing to eat broadcast and cable market share over the ensuing quarters, but we recognize the pace of those gains could slow. Over time, however, we suspect streaming will increasingly become the dominant platform, in part due to how folks are increasingly consuming video content on their connected devices.
That includes connected TVs (CTV), but also smartphones and tablets. Ericsson ERIC forecasts video streaming will account for 80% of mobile traffic by 2027, and that supports revenue expectations at Meta META as it continues to increase the mix of video across its platforms. Earlier this year, data from Demand Sage pointed to 27% of live streams being watched on mobile devices with further growth ahead.
Placing Trade Desk into the Bullpen
Given the above findings and the pronounced drop in shares of The Trade Desk TTD, we will place TTD shares in the Portfolio’s Bullpen.
While it is clear digital advertising should continue to win market share, to call TTD shares up to the Portfolio, we will need to become comfortable with the company’s competitive position, especially after reports that one of its key customers, Walmart WMT, is no longer exclusive.
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At the time of publication, TheStreet Pro Portfolio was long GOOGL, AMZN and META.
