3 Top Streaming Stocks To Check Out Right Now
With earnings season fast approaching and consumer spending rising, investors could be eyeing some of the top performers from 2020. Among this group of stocks, video streaming stocks could be in focus in the stock market now. For starters, some would argue that the streaming industry is the future of home entertainment. This would be the case seeing as cord-cutting trends persist even as the economy reopens. Not to mention, the current pandemic has and continues to accelerate this transition globally. For consumers, streaming platforms offer more curated and affordable content compared to conventional TV. Because of all this, it would not surprise me if investors are keen on streaming stocks now.
Evidently, investors and companies alike see the value from this upcoming industry now. On one hand, Amazon (NASDAQ: AMZN) recently acquired MGM Studios for a whopping $8.45 billion. This would mark an ambitious play that could serve to significantly bolster its Amazon Prime Video streaming services. In fact, this would be Amazon’s second-largest acquisition to date, suggesting that it sees opportunity in the streaming space now. At the same time, emerging names such as FuboTV (NYSE: FUBO) are hard at work filling specific niches in streaming content now. Namely, the company focuses on live-sports streaming and is looking to integrate its live-sports betting operations with its streaming platform. Even now, there are streaming companies that continue to innovate and find new ways to monetize their services.
However you look at it, the streaming revolution continues to take hold in consumer markets. For investors looking to bet on this trend, streaming stocks would be a viable play now. With all that said, here are three worth knowing in the stock market this month.
Top Streaming Stocks To Watch This Week
- Walt Disney Company (NYSE: DIS)
- Netflix Inc. (NASDAQ: NFLX)
- Roku Inc. (NASDAQ: ROKU)
Walt Disney Company
Starting us off is streaming giant, the Walt Disney Company. Although it is a relatively new player, coming on to the scene in 2019, Disney+ continues to turn heads. For a sense of scale, the company’s streaming platform currently boasts a paid subscriber count of over 103 million as of late May 2021. Arguably, it is one of the fastest streaming platforms to achieve these figures. No doubt, with most consumers stuck at home during the pandemic, Disney+ would be a viable means of entertainment. Moreover, Disney strategically weathered unfavorable business conditions by bringing its massive media portfolio to the public via its streaming service. This would appeal to the millennial market which is boasting stronger spending power and likely grew up on Disney’s content.
Given all of these factors, DIS stock could be a go-to for investors looking to jump on the streaming train now. With the company’s shares currently looking at gains of over 110% since its pandemic era low, could it have more room to run? Well, if anything, Disney does not seem to be slowing down on the video content front any time soon. This is clear as the company released its latest Marvel IP-related blockbuster, Black Widow, after a 15-month delay. The movie raked in a total of $80 million in domestic box office sales during its opening weekend in theatres. Notably, this marks a pandemic era high for movie premieres. Additionally, Disney also made it available via “Premier Access” on its Disney+ platform, bringing in $60 million via streaming sales.
Overall, Disney continues to make waves both in the digital and in-person entertainment scenes. Add this together with its tourism-related businesses gaining momentum and DIS stock could be looking at exciting times ahead. Would you say the same?
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Netflix Inc.
Following that, we will be taking a look at Netflix Inc. Indeed, it would be hard to talk about the best streaming stocks without mentioning this industry leader. With the company being a pioneering name in the streaming world, NFLX stock could be worth watching. From its vast array of content offerings ranging from popular movies to its own award-winning content, Netflix brings plenty to the table. So much so that the company now has over 208 million global subscribers on its platform. Thanks to all of this, NFLX stock remains as relevant a play as ever in the streaming industry today.
At the same time, Netflix does not seem to be resting on its laurels right now. Just last week, the company revealed that it is working with critically acclaimed director Zack Snyder on a new project called Rebel Moon. To highlight, Snyder is famous for his work on the Justice League movie which grossed over $657.9 million in the box office. This would mark yet another collaboration between Netflix and the director following the production of the zombie thriller film, Army of The Dead. Now, Army of The Dead is one of the platform’s top ten most-watched films. This could be a move by Netflix to maintain its lead against the competition.
On the financial front, the company continues to perform as well. In its latest quarter fiscal posted back in April, Netflix posted green across the board. In brief, the company raked in total revenue of $7.16 billion for the quarter, a sizable 24% year-over-year increase. On top of that, Netflix also saw significant year-over-year surges of 140% in net income and 138% earnings per share. Will you be adding NFLX stock to your portfolio ahead of its second-quarter fiscal report due July 20?
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Roku Inc.
Another top name to know in the ongoing streaming wars now would be Roku Inc. In brief, the company manufactures and markets a variety of digital media players for video streaming. Furthermore, Roku also has an advertising business and boasts partnerships with some of the biggest names in the streaming industry now. This would include two of our previous entries. More importantly, Roku primarily operates by licensing its hardware and software to its core partners. In theory, this essentially turns Roku’s streaming platform into a one-stop destination for consumers looking to indulge in streaming content today. In terms of revenue streams, Roku gets a cut of subscription fees paid via its platform while also gaining ad revenue from its free content.
All in all, some would argue that Roku stands to benefit regardless of who wins the streaming wars. Accordingly, this would put ROKU stock on the radar now, even after gains of over 190% in the past year. Meanwhile, Roku continues to break new ground as it ventures into producing proprietary streaming content via its Roku Originals arm.
Simply put, the company released 30 original series on its streaming platform back in May. According to Roku’s latest estimates, the launch saw a record number of unique accounts streaming its content for two weeks. This would indicate that Roku’s viewers are eager to see what the company has to offer on the homegrown content front. With all this in mind, would you consider ROKU stock a top buy now?
