NBCUniversal, owned by Comcast Corp. (NASDAQ:CMCSA), proved again that a slight innovation in the SVOD sector can reward shareholders. The company followed the path of Disney (DIS) where a growing customer base is rewarded by the stock market. On the flip side, the market doesn't reward lackluster growth to protect an entrenched customer base such as the case of the new HBO Max service from AT&T (T).

While NBCUniversal appeared late to the streaming game with its Peacock service, the company is actually launching an ad-supported service for current customers on April 15, making HBO Max the last service to officially launch in May. The early launch will over-cover existing Comcast customers while everyone will have access to Peacock on July 15. In addition, the service is offering three tiers: Free, Premium for $4.99, and Ad-free for $9.99.

NBCUniversal made an intriguing case for turning to streaming services with how viewing demand has shifted over the years. Since Eddie Murphy last hosted SNL in 1994, the amount of people watching the show live has dipped by 38% to only 11.7 million hours. The actual demand for SNL as demonstrated by hours viewed is up 66% from the original 19.0 million hours viewed to 31.6 million hours now.

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