Streaming stocks have taken center stage, fueled in part by the step-changes brought about during the pandemic years. The convenience of accessing a vast content library of movies, music, podcasts, and other entertainment offerings effectively ushered in a new era, leaving video stores a distant memory.

Though the pandemic tailwinds may no longer be a potent catalyst for the sector, there’s no denying the streaming industry’s firm growth trajectory. The sector’s tantalizing growth potential has companies of all stripes vying for a piece of the streaming pie.

According to Grand View Research, the global video streaming market, valued at more than $50 billion in 2020, could potentially grow by a remarkable 21.5% CAGR from 2021 to 2028.

However, this article aims to shed light on some of the most underrated players in the sector, poised to make massive waves in the streaming space.

Warner Bros. Discovery (WBD)

Warner Bros. Discovery (NASDAQ:WBD) is one of the largest media businesses, with a thriving streaming segment.

Its streaming platforms, Discovery+ and HBO Max, have attracted millions of subscribers since their release a few years ago.

Warner Bros. Discovery results from the merger of the entertainment assets of WarnerMedia and Discovery Inc. The move created a global media powerhouse, offering a wide content library offering diverse programming to compete in the evolving streaming landscape.

Streaming has proven to be one of the fastest-growing divisions for WBD. Adjusted EBITDA for the segment improved to a negative $0.2 billion in the fourth quarter this year from a negative $0.7 billion in the same quarter last year.

HBO Max and Discovery+ boast a combined subscriber base of 96.1 million globally, more than 50% growth from 2020. HBO Max is among the top five most popular streaming sites, launching just three years ago in May 2020.

Its success can comes from the incredible lineup of entertainment franchises on the platform, including “Harry Potter”, “The Hobbit,” and the “The Lord of the Rings.”

Comcast (CMCSA)

Entertainment giant Comcast (NASDAQ:CMCSA) faces a dichotomy between its traditional cable and streaming services due to the cord-cutting phenomenon.

It continues to lose cable TV subscribers, but the losses are being offset by the growth in its thriving streaming division.

Its streaming division, led by its popular Peacock over-the-top video service, saw its revenues nearly triple to $2.1 billion last year. It doubled its subscriber base last year, surpassing the 20 million mark.

According to the company CFO Jason Armstrong, the firm is in peak expense mode for its streaming services this year, solidifying its commitment to its burgeoning segment.

The overall long-term outlook for Comcast remains solid as it looks to embrace the new normal in the entertainment sphere. It continues to reward its shareholders handsomely, paying dividends for the past 13 consecutive years.

AMC Networks (AMCX)

AMC Networks (NASDAQ:AMCX) is a popular cable TV company boasting iconic brands in its portfolio, including AMC, SundanceTV, and IFC, and streaming services such as AMC+ and Shudder.

It is home to some of the most famous entertainment franchises, such as The Walking Dead. It recently racked up a record single-day viewership in AMC’s history for its final season opener.

AMC’s streaming segment is on fire, strutting a whopping 11.8 million paid subscribers at the end of the fourth quarter, a more than 30% bump from 2021. Its streaming revenues shot up 35% to $502 million, with overall sales up 20% to $965 million from the prior-year quarter.

According to the company, it’s tracking exceedingly well on its goal of 20 to 25 million subscribers by 2025, with streaming becoming its biggest business by then. AMC stock trades at just 0.26 times forward sales estimates, roughly 80% lower than the sector median.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines