Nine's home grown streaming media platform Stan will be one of the last players standing despite intense compeition, according to Morningstar senior equity analyst Brian Han.
The sudden rush of new streaming oplatforms, including the launch of Disney+, will have an impact but Stan is still at second place in Australia after Netflix.
"With Disney+ entry into the Australian market on last count I think we'll have about 10 streaming players in Australia," says Han.
"So that spells certainly a step up in competitive intensity going forward from a market that's basically to date has been dominated by Netflix, Stan and to a lesser extent, Foxtel Now and Kayo.
"We still think Stan will be one of the last player standing after this land grab is over."
Han says Stan has a first mover advantage which is very hard to overcome.
It also differentiates itself from all the others because it has the most original Australian content.
"That certainly gives people an incentive to subscribe to Stan on top of Netflix or whatever else that they're attracted to," says Han.
Stan also has relationships with a lot of studios including Warner Brothers, Sony, the BBC and NBC Universal. Last week Stan annoucned a deal for content from Disney-owned companies Fox and ABC.
That means Stan has a good library sourced from many studios.
Netflix has a lot of its own original content but Stan has studio content plus its own Australian original content.
Han says Stan could be earning about $70 million in profit on $350 million of revenue in five-years' time with 2.5 million subscribers.
It currently has about $200 million in revenue.
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