Consolidation seems inevitable as the reach of direct-to-consumer (D2C) and video services increases.
Netflix and Amazon have demonstrated a high subscriber base across various territories which enables huge content investments which no single-market broadcaster may have thought of. Subscription Video on Demand (SVOD) services have increased so much and are charging approximately what Netflix does, however often a significantly more limited content catalog.
Pay-TV providers now have ventured into launching their own OTT platforms such as DirecTV Now, that mimic the channel line-ups and linear experience that is more commonly found via cable or satellite. So this is another challenge for big players and other SVOD services.