Theaters will always survive. You just can't replicate the movie-going experience. TV didn't do it, home video didn't do it, cable didn't do it, streaming wars won't change that. Even with those folks with the home theater set-up, they still can't replicate the movie-going experience.
As for the television, cable is still very valuable. A lot of the young are really underestimating the value and profitability of live television. Plus with all of the streaming services, they're really just have y'all paying the bill they get for licensing their channels to cable companies. And if you only had streaming services, you really would end up paying cable prices, in which you already get access to some streaming services.
With the Streaming Wars, they're definitely gonna end up putting caps on the amount of content you can stream, restrictions on what you have access to, AND add in pricing tiers.