YouTube TV -- the streaming service's cable TV alternative -- has 5 million subscribers and trial subscribers streaming live programming. Not only does that make it the largest virtual Multichannel Video Programming Distributor (MVPD), beating Disney's (NYSE: DIS) Hulu + Live TV, but it's now the fifth-largest distributor in the nation. That's some serious industry heft, and it could prove extremely valuable to its parent company, Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL).

The cable industry is shrinking, and network owners are certainly feeling the pinch. As a result, we've seen significant industry consolidation over the last few years.

Disney, notably, bought Fox, except for a few networks that it either had to divest or weren't included in the deal. Viacom and CBS remerged to form Paramount Global. And WarnerMedia and Discovery recently completed their merger to form Warner Bros. Discovery.

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Source Fool.com