Cable TV as we know it is doomed. It's no secret that people are cutting the cord and shifting a good deal of their entertainment to mobile devices.
Rather than tether to an expensive cable network, where there is usually only one choice of provider with a limited selection of content, people can buy what they want and, more importantly, get it when they want it.
Following that trend, Money Morning Director of Technology & Venture Capital Research Michael A. Robinson gave readers a top stock to buy in March 2014 that has since soared 208%.
If you've missed those gains, don't worry. Robinson expects the stock to continue its ascent.
Robinson says we're at a tipping point in which the death of cable TV is upon us. People are simply tired of paying for what seems like hundreds of channels and never watching most of them.
And streaming live television - sports and news - is the reason. People are switching to streaming services in droves.
A new report by eMarketer says that by the end of this year upwards of 22.2 million American adults will cut the cord on cable, satellite, and pay TV. That's a 33% increase from the 16.7 million cord cutters in 2016.
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The long term for streaming looks even brighter.
By 2021, eMarketer says the number of cord-cutters will nearly equal those who have never had pay TV: an astounding 81 million adults in this country alone. By then, roughly 30% of American adults will be streaming their content, including live TV.
This is bad news for cable companies.
And it gets worse when we look at content.
This year's Emmy Awards shows just how important online streaming has become. Consider that one streaming leader in particular had some 91 shows and movies it produced up for awards.
While all this cord-cutting is terrible for cable-TV providers, it has provided us an excellent stock to buy now. Here's Robinson's pick, which has already tripled our money, and will climb even higher...
This Top Stock to Buy Is Still the Best Profit Play in Streaming TV
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We're talking about 91 shows and movies produced by Netflix Inc. (Nasdaq: NFLX). That's up from 54 just one year ago.
A-list celebrities now look toward Netflix as their first choice for projects. And it is backed by a content budget that surpasses $6 billion annually.
Make no mistake. Netflix has been the most disruptive force in the viewing and streaming landscape today.
Netflix proves itself every quarter, and its shares surge higher. In the second quarter, it posted $2.79 billion in sales and, more importantly, added 4.14 million net new subscribers. That's 60% better subscriber growth than analysts had predicted.
Netflix thinks it will grow by 4.4 million net new subscribers this quarter, also ahead of plan.
The biggest lure for new customers is top-shelf new shows. Additionally, international subscribers are signing on at an especially rapid rate and already account for 75% of the firm's subscriber base.
There is one more factor - your pocketbook.
The firm's service is still an incredible bargain when compared to traditional cable packages. That means Netflix can raise prices - and expand profit margins - and its customers won't even think about switching back to pay TV.
Sales are projected to grow 30% this year, while profits should nearly triple. Shares of Netflix trade at $180, up nearly 50% this year. And since Robinson first recommended this strategy in March 2014, readers have made 208%. The best part is that there is plenty more to come.
Streaming is a trend that will go on for years, creating fabulous wealth for investors at the same time.
This Stock Is Beating the Markets 16 to 1 - and It's Just Getting Started
Investing should be profitable. But the average market index fund may hit 8% a year... if it's lucky.
A 401(k) or IRA may do 7%... if you've got good management. The average hedge fund... well, they've been clobbered lately.
Meanwhile, one of Keith Fitz-Gerald's recent picks in his Money Map Report is beating the markets 16 to 1. It's up more than 22% since June 20.
It's just the latest winner from Keith, who regularly finds stocks set to rise on high-profit trends.
You can find out how to get that and all Keith's Money Map Report recommendations here.
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