Are These The Best Streaming Stocks To Invest In Right Now?
Among the cyclical stocks that surged during the onset of the pandemic are streaming stocks. Nevertheless, with some of the recent correction, investors may be relooking at this section of the stock market today. For the most part, this would be thanks to a combination of factors potentially fueling growth in the sector. On one hand, you have the ongoing shift from cable TV to streaming services. This would be due to streaming services bringing more curated and cheaper packages compared to conventional TV offerings. On the other hand, as the coronavirus pandemic continues to rage worldwide, consumers would stream content more.
After considering all of this amidst the current volatility in the stock market, some investors could see an opportunity. For one thing, streaming companies continue to make strategic moves as well. We could look at the likes of Netflix (NASDAQ: NFLX) and Roku (NASDAQ: ROKU) for instance. Firstly, Netflix is now raising its prices in the U.S. and Canada across the board. The price increase is to ensure that it can continue to offer “quality entertainment options” for its subscribers. According to the company, Netflix customers will receive a 30 days notice before the price increase takes place. Given that it reportedly spent a whopping $17 billion on content last year, this push makes sense.
Secondly, Roku recently refreshed the user interface on its core streaming platform. Now, Roku watchers will find it easier to locate live content with the new Live TV Zone. Among other things, this feature serves to put Roku’s live offerings front and center. The likes of which also include Alphabet’s (NASDAQ: GOOGL) YouTube TV among other third-party services. As things continue to heat up in the streaming world, could one of these streaming stocks be top picks?
Top Streaming Stocks To Buy [Or Sell] This Week
- FuboTV Inc. (NYSE: FUBO)
- Walt Disney Company (NYSE: DIS)
- Spotify Technology (NYSE: SPOT)
FuboTV
To begin with, we will be taking a look at FuboTV. For those uninitiated, Fubo is a leading streaming firm that focuses on delivering sports-first live TV experiences. In other words, the company primarily caters to sports fans in the current cable-cutting trends. Some of which are still relying on bulky cable TV packages with countless irrelevant channels to get their sports content fix. To date, Fubo currently offers over 100 live sports, news, and entertainment networks on its platform.
Not to mention, the company is also actively working on its gaming division, Fubo Gaming. Fubo is doing so via its next-generation mobile sportsbook solution, the Fubo Sportsbook. This alongside Fubo’s plans to integrate interactive elements into its core streaming services, sets the company aside from its peers. Despite all of this, FUBO stock is currently on the decline amidst the current uncertainty in markets. Even so, would investors be wise to buy on the current dips in the company’s shares?
If anything, Fubo is not sitting idly amidst all of this. Just last week, the company made two notable announcements. For starters, Fubo’s estimates for its fourth-quarter earnings figures are in. The company expects a year-over-year quarterly revenue spike of 105% to 109%. In terms of full-year revenue, Fubo is forecasting a surge of between 138% to 140% over the same period. That’s not all, Fubo also now has the exclusive rights to stream the Premier League in Canada for the next three seasons. Seeing as it is the top soccer league in England, this would be a win for Fubo. With all this in mind, will you be adding FUBO stock to your portfolio anytime soon?
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Walt Disney
Another name to consider among streaming stocks now would be the Walt Disney.. In general, most consumers and investors alike would be familiar with this titan in the global entertainment scene. Whether it is timeless classics, household brands, or massive IPs, Disney brings plenty to the table. As it stands, DIS stock is still holding up in the past month despite the recent sell-off in stocks.
Overall, the current movement in DIS stock is not all that surprising. After all, its core tourism-related offerings were hit hard at the initial onslaught of the pandemic. In response to this, Disney pivoted hard towards building its highly successful Disney+ streaming platform. Fast forward to the current day and investors are understandably concerned about resurging coronavirus cases impacting Disney’s reopening operations again. Despite all of this, the company continues to press forward on the operational front. In fact, its latest Pixar animated movie Encanto is turning heads both in the music and video streaming spaces. This is evident as its arrival on Disney+ also comes with the film’s soundtrack becoming the top album on the U.S. Billboard 200 list over the weekend.
On top of all that, Disney CEO Bob Chapek recently revealed the company’s current plans. According to Chapek, the key focus of Disney now is the integration of all its content production operations into one segment. This ranges from movies, TV shows, and live sports to the company’s distribution operations. Aside from that, the only other segment would ideally be its in-person entertainment offerings such as Disney’s theme parks and cruises. In essence, Chapek says, “This reorganization leads us to have the creative people focusing on what they do best.” Given all of this, would DIS stock be a top buy for you?
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Spotify
Following that, we have Spotify. All in all, the company is mostly known for its audio streaming services. By Spotify’s estimates, it currently serves a community of over 381 million monthly active users. Over 45% of them consist of premium subscribers. For a sense of scale, the company operates in 184 markets across the globe. Through its leading audio content library, Spotify users have access to over 70 million songs and podcasts titles.
Now, with SPOT stock trading well above its pre-pandemic levels, investors may be wondering if it still has room to run. While that remains to be seen, Spotify does not seem to be slowing down anytime soon. Just last month, the company acquired Whooshkaa, a podcast tech firm. In detail, the Australian firm is a one-stop platform for hosting, managing, distributing, monetizing, and promoting podcasts.
Commenting on the acquisition is Spotify Chief Content & Advertising Business Officer, Dawn Ostroff. Ostroff notes, “With Whooshkaa, we will strengthen our efforts to help audio publishers of all kinds grow their podcast business and scale our ability to help advertisers reach their audiences.” With Spotify venturing deeper into emerging digital audio markets, I could see investors eyeing SPOT stock in the long run.
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