NEW YORK ( TheStreet) - DirecTV ( DTV) competes with satellite pay-TV providers like Dish Network ( DISH), cable companies like Comcast ( CMCSA) and Time Warner Cable ( TWC) and telecom operators like AT&T ( T) and Verizon ( VZ) in the pay-TV business.Our price estimate for DirecTV stands at $42.51, which is in line with market price. We estimate that DirecTV generates about 64% of its stock value from U.S. satellite TV. The pay TV industry has become increasingly competitive as consumers have undergone a shift in viewing habits. Competition exists not just from traditional players but also from new business models like those of Netflix ( NFLX), Hulu and Apple's ( AAPL) iTunes. As more video content moves online, consumers not only have greater flexibility to watch content in terms of devices but also a wider choice as to which service platform to use. It is increasingly necessary for pay-TV providers to evolve their services and differentiate themselves. DirecTV is one player that has had success in this regard. While cable operators have been losing subscribers and Dish has been struggling with growth, DirecTV has been rather successful in gaining subscribers. While DirecTV's affluent subscriber base has been one reason why it has thrived during recession, the company's other unique features should aid the fight against increasing competition and facilitate market share growth in the U.S. The modifiable chart below illustrates how various market share growth scenarios affect DirecTV's stock value.