Apple and Amazon could ‘destroy the streaming business,’ analyst argues

$Apple(AAPL.US)$ and $Amazon(AMZN.US)$ have thrown billions of dollars at sports media rights over the last few months, outbidding traditional competitors and spiraling the streaming wars into its next stage of battle.
One Wall Street analyst believes the tech giants' spending sprees could potentially cannibalize the streaming industry.
For Apple and Amazon, the spend isn’t about directly being paid back via subscribers, but the focus is on bringing more people into the various channels of the ecosystem.
Apple recently spent $2.5 billion for MLS streaming rights and is reportedly in talks to spend at least $2.5 billion annually on NFL Sunday Ticket.
And this fall, Amazon enters the first season of its 11-year, $11 billion bet on sports streaming with the NFL’s Thursday Night Football. $Alphabet-A(GOOGL.US)$ and Amazon have also contacted America’s largest sports league about the Sunday streaming rights while streaming battles for international soccer and college football are taking place as well.