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Streaming giant Netflix (NASDAQ: NFLX) alluded to an ad-supported product in its first-quarter earnings call, implying a break from the company's historical insistence on subscription billing.

Roku ROKU recently entered into an agreement with Walmart WMT to make TV streaming the next e-commerce shopping destination. Roku shares are up 4.35% post-market, after it announced its partnership with Walmart.

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Apple (NASDAQ: AAPL) recently inked a 10-year deal with Major League Soccer (MLS), reportedly paying a minimum guarantee of $250 million per year to the American soccer league. The deal gives Apple TV+ exclusive global media rights to stream every MLS match.

The FAANG stocks dramatically outperformed the market over the past decade. Netflix led the way with a 1,750% return, followed by Amazon and Alphabet with returns of 847% and 651%. Finally, Apple and Meta Platforms delivered gains of 535% and 438%.All those companies benefited fr

Media-streaming veteran Netflix (NASDAQ: NFLX) has taken a pummeling in the stock market in 2022. The stock is down 70% year to date, including a 49% drop in the last quarter.

Rumors have popped up on Wall Street in the past couple of weeks that streaming service Netflix may make a bid to acquire streaming platform Roku (NASDAQ: ROKU). The rumor was also spreading within Roku, and the company has suspended employee trading of its stock, a procedure tha

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Netflix NFLX is bringing back its hit Korean urban fantasy action series Sweet Home for two more seasons. Lee Eung-bok, who directed the first season of Sweet Home, is also set to helm the K-drama’s new seasons.Based on the 2017 webtoon of the same name, Sweet Home follow

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The video-streaming scene has been dire in recent quarters. What used to be an incredible innovation in entertainment has now become the boring, old norm, with many media companies itching to move into the modern era and away from traditional television.

At the end of the day, it's just moving the same content from one medium to another. Further, the technologies behind streaming aren't all that exciting anymore, given many consumers expect on-demand services alongside their cable subscription packages.

At the end of the day, the move into streaming is just another expense to keep up with the times. Unlike traditional media, streaming also comes with lower switching costs. Unfortunately, many investors are discovering that streaming isn't nearly as lucrative as it used to be now that media firms have had the chance to catch up.

With an economic downturn on the horizon, the stickiness of various platforms will be tested. Many streaming stocks will crumble under the pressure. Others may have a chance to take share and push into profitability.

In any case, the advent of streaming technology now looks to have been more of a burden than an opportunity for the industry as a whole. After so much damage dealt to the streaming stocks, there may be value to be had in some of the stronger players.

We used TipRanks' Comparison tool to look at three major players to determine which is worthiest in the eyes of Wall Street.

Netflix (NFLX)

Netflix is the original video-streamer, and it's suffered a big fall from grace, shedding around 76% of its value from peak to trough. It's been an ugly valuation reset for Netflix that's caused CEO Reed Hastings to pivot to help put an end to the bleeding.

While initiatives such as finding ways to get freeloaders to pay may provide a bit of temporary relief, investors are unlikely to get bullish on the stock again until subscriber growth shows signs of a sustained turnaround. The keyword here is, "sustained." Until Netflix can pull another rabbit out of the hat in the video-gaming market, it seems unlikely that hit shows such as Stranger Things — or another season of Squid Game — can turn the ship around.

Moving ahead, Netflix needs to continue spending to create quality content, all while rivals look to poach subscribers. With such high capital-spending requirements, now may not be the best time to be a shareholder, as the firm dukes it out with stronger competition in the face of a recession.

Despite all the negatives and lack of catalysts, Netflix is a cheap stock at 16.3 times trailing earnings. It's no longer the growth play it was, but it can be an intriguing stalwart for value seekers. Perhaps if Netflix can't get its groove back in the gaming market, it can offer a sizeable dividend.

Wall Street remains bullish, with the average Netflix price target of $283.77, implying 57.48% upside.

Warner Bros. Discovery (WBD)

Warner Bros. Discovery is a newcomer on the block following its spin-off. The company could not have picked a worse time to hit the public markets, as streamers have crumbled in sympathy with Netflix.

Whether or not Netflix is the canary in the coal mine remains to be seen. Regardless, one has to draw a line in the sand somewhere, as the market reassigns new valuations to the streamers.

After plunging over 46% from its April peak, Warner's media empire now boasts a mere $36 billion market cap. At 7.3 times trailing earnings, the firm behind popular steaming platform HBO Max is starting to get ridiculously cheap.

Warner Bros. Discovery is a great value play with a lot of potential synergies to realize over the years. Still, the company has a lot of debt on the sheets, and until the broader streaming market can see some sort of relief, it seems unlikely that WBD stock will be able to start moving higher again. That ~$55 billion debt load has got to be off-putting for many investors.

Wall Street is staying bullish, with the average Warner Bros. Discovery price target of $32.17, implying 116.63% upside.

Paramount Global (PARA)

Paramount Global, formerly ViacomCBS, is one of the cheapest media firms at writing, with a mere 4.3 times trailing earnings multiple. The $16.75 billion company has shed around 60% of its value over the past five years in what has been a slow and steady tumble into the abyss.

As the company bets big on its Paramount+ service, which enjoyed substantial growth of late, the firm may have the opportunity to take a bit of share away from the likes of Netflix. Still, the company doesn't have as much firepower to throw at content as its bigger brothers.

In any case, I do view the evolution of streaming as favoring the little guy. If Paramount can deliver a few hit shows, it could find its groove again. Until then, Paramount is a heavy underdog in the streaming space, with one of the most depressed multiples in the markets right now.

Even if Paramount can't deliver on the quality front, the stock seems to be priced with nothing but pessimism in mind.

Wall Street is bullish, with the average Paramount price target of $33.47, implying a 30.54% upside.

Conclusion

The video-streaming outlook is grim right now. Still, it's tough to pass up some of the dirt-cheap multiples. Wall Street seems most bullish on Warner Bros. Discovery, with the stock expected to more than double from current levels.

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What happened Netflix (NASDAQ: NFLX) outperformed a rising market on Wednesday. Shares were up 9% as of 3:26 p.m. ET, compared to a 2.1% increase in the S&P 500. That rally, though, hardly erased any of the losses that shareholders in the streaming giant have endured recently

The best performing sector as of midday Wednesday is the Services sector, up 0.8%. Within the sector, Netflix Inc (Symbol: NFLX) and Warner Bros Discovery Inc (Symbol: WBD) are two large stocks leading the way, showing a gain of 5.4% and 4.4%, respectively. Among the largest

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Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Alphabet Inc (Symbol: GOOG), where a total of 16,350 contracts have traded so far, representing approximately 1.6 million underlying shares. That amounts to about 104.1%

Apple AAPL has yet added another feather to its long list of achievements via its streaming platform — Apple TV+. The company announced on Tuesday that Apple TV+ has won exclusive rights to broadcast Major League Soccer ("MLS") around the world starting from 2023.

Roku (NASDAQ: ROKU) has been capturing headlines lately due to rumors that Netflix (NASDAQ: NFLX) may be interested in acquiring the company. The combination would make sense in some respects. Roku gives users access to their streaming services through its platform, and its mark

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Netflix (NASDAQ: NFLX) has had a challenging 2022 so far. The company reported a loss of 200,000 subscribers in its fiscal first quarter, and it expects to drop another 2 million in Q2. This exodus of subscribers comes as the company's stock price has declined. Netflix's shares a