Are These The Best Entertainment Stock To Buy In December 2021?
With or without the pandemic, entertainment is an essential part of our daily lives. For this reason, entertainment stocks continue to be the focus of many investors in the stock market today. In fact, some of the pandemic era trends for things like gaming and streaming remain themes with staying power. For instance, we saw DraftKings (NASDAQ: DKNG) revealing plans to launch gamified non-fungible token (NFT) collections of NFL players. The company’s foray into NFTs proved very lucrative earlier this year. Now, with the new launch, DraftKings NFTs are taking things to the next level.
Elsewhere, you’ve got companies like Meta Platforms (NASDAQ: META) and Alphabet (NASDAQ: GOOGL) deferring their plans to bring back employees to their physical office. And when you have big companies like these two offering such an arrangement, I wouldn’t be surprised if others are following suit. That’s especially the case when the most recent data suggests that Omicron is at least four times more transmissible than the Delta strain.
Most investors have been turning their attention to some of the top entertainment stocks during the COVID-19 pandemic. And the emergence of a more transmissible variant could nudge investors to repeat this strategy. That’s because when there’s a spike in infection numbers, more people will lean on digital content to provide entertainment. Considering all this, would you put up a list of top entertainment stocks to buy in the stock market now?
Best Entertainment Stocks To Watch This Month
- The Walt Disney Company (NYSE: DIS)
- Netflix, Inc. (NASDAQ: NFLX)
- fuboTV Inc. (NYSE: FUBO)
- Roku, Inc. (NASDAQ: ROKU)
- Roblox Corporation (NYSE: RBLX)
Walt Disney
Disney movies have been a staple in many people’s childhood. The company now boasts theme parks, cruise lines, and streaming services under its portfolio. Moreover, Disney’s portfolio also includes Marvel and Pixar movies. Although it was only launched in 2019, Disney+ has an impressive number of subscribers. Disney revealed that 2.1 million subscribers joined Disney+ during its fourth fiscal quarter. This increased the number of Disney+ subscribers to 118.1 million.
Despite its success, Disney is not one to rest on its laurels. Disney CEO Bob Chapek said last month that the company is ready to join the metaverse bandwagon. Chapek said the company envisioned a Disney metaverse where the physical and digital words are able to connect more. He said that this would allow for a more immersive storytelling, and storytelling is in the company’s blood. Seeing Disney’s ability to adapt to the times, could DIS stock be a top entertainment stock to buy right now?
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Netflix
Streaming titan Netflix is a company that is benefiting from a worldwide shift in consumer preference toward streaming content. But with such an incredible run in its stock price over the past few years, some investors wonder if NFLX stock is still a good buy? For starters, the company boasts an impressive 214 million subscribers at the end of its latest fiscal quarter. That was a significant increase of 9.4% compared to its prior year quarter. If anything, this shows that Netflix was the obvious choice for consumers looking to entertain themselves at home.
Moreover, Netflix is in acquisition mode this year. In November, it announced that it is acquiring Scanline VFX, a company that specializes in virtual production. It has worked with Scanline before on productions such as Strangers Things and Cowboy Bebop. In addition to that, the company also reportedly spent over $700 million to purchase the Roald Dahl Story Company. The latter holds the rights to author Roald Dahl’s characters and stories, which gives Netflix ample material for series and movies. Keeping in mind Netflix’s track record of creating hit content, would NFLX stock be worth buying today?
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fuboTV
Following that, we have fuboTV, which started as a sports-centric streaming service. However, the company has now broadened its offerings to include live TV such as ABC, CBS, and Showtime. And to add to this large catalogue, the company acquired French live TV streaming company Molotov this week. This acquisition also brought along Molotov’s ad-supported video-on-demand service Mango. Apart from that, it also recently acquired Indian artificial intelligence (AI) startup Edisn.ai. fuboTV said that the startup’s technology will be used to create a more interactive and personal experience for its subscribers.
Last month, the company said it crossed the milestone of having 1 million subscribers shortly after its third-quarter ended. While the number pales in comparison to established streaming services such as Netflix, fuboTV has only been around for about 6 years. The company also recorded an increase of 156% year-over-year in total revenue in the third fiscal quarter to $156.7 million. Considering fuboTV’s strong growth potential, could FUBO stock be of interest to investors looking to buy entertainment stocks?
Roku
Roku manufactures digital media player devices and offers streaming services on the devices. Its device offers both free and paid streaming services, including Netflix, Disney+, and its own Roku Channel. This week, Roku reached a deal with Google that allows its users to continue streaming YouTube and YouTube TV on Roku. The multi-year agreement comes after fears that Google might pull out the channels from Roku’s platform.
For its third quarter, Roku recorded an increase of 51% year-over-year in total revenue to $680 million. The company also saw an increase in its active accounts by 1.3 million compared to its second fiscal quarter. The addition brought the total of active accounts on Roku to 56.4 million. On the hardware front, the company launched the Roku Streaming Stick 4K and the Roku Streaming Stick 4K+ in the third quarter. With these recent developments, would you buy ROKU stock?
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Roblox
It’s no secret that online gaming platform Roblox is immensely popular with kids. While that’s certainly true, it is also worth pointing out that it’s popular among investors looking for the best metaverse stocks to buy. After all, Roblox is an online entertainment platform that may be the closest thing to an existing social metaverse today. Through its “human co-experience platform”, millions of players worldwide interact with each other in a variety of ways. This ranges from user-built interactive games to pop culture-related content and even live streamable music events in-game.
Earlier this week, Ralph Lauren (NYSE: RL) said it will debut The Ralph Lauren Winter Escape on Roblox. This is a holiday-themed experience allowing fashion fans to explore the world of Ralph Lauren. For the record, this is not the first time a fashion brand launches on Roblox. Last month, the company partnered with Nike (NYSE: NKE) to create a virtual world called Nikeland on Roblox’s platform. With all these in mind, could RBLX stock be an addition to your watchlist?
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