Distribution channels change. Cable has given way to streaming, and DVDs have largely died in favor of streaming as well. As a content provider, however, if you have intellectual property (IP) that people want, then these changes don't matter as much.
Walt Disney (NYSE: DIS) has demonstrated this with its ability to leverage franchises like The Avengers and Star Wars to help launch the Disney+ streaming service. People would probably watch a well-made new show in either of those universes on any sort of technology.
That gives Disney a killer advantage over many of its rivals. It's not immune to change, but it should be able to find an audience no matter how the delivery market changes. And the House of Mouse is not alone in this (though it's almost certainly the strongest example of it). Here's a bit more about Disney and two other content companies with killer advantages.