3 Trending Streaming Stocks To Check Out In March 2022
Streaming stocks, similar to many popular segments of the stock market, have had a down year thus far. From expectations of interest rate hikes to the Russian invasion of Ukraine, sentiments in the market appear to be in the doldrums. Besides, the reopening of the economy following the pandemic has likely impacted the near-term growth of streaming services. However, this should not sway investors away from the industry. After all, content streaming could still benefit over the longer term due to cord-cutting trends.
After coming off a stellar quarter, Disney (NYSE: DIS) recently announced that it would launch ad-supported video on demand. It appears that this new feature would be cheaper than the current version as it strives towards its target of 230 million subscribers by the end of fiscal 2024. As a result, the cheaper price will also allow content providers to reach more audiences. And that could potentially add to the bottom line.
Besides that, Discovery (NASDAQ: DISCA) and Venture Valley video game team recently announced Discover Venture Valley. This is a new educational initiative that would help students build financial literacy and business skills. Just like Netflix, other companies are open to exploring other high potential industries such as gaming. All in all, there is still room for growth within the streaming space. Nevertheless, investors may have to be more selective when picking companies in this competitive environment. So, here are some of the top streaming stocks to consider in the stock market today.
Streaming Stocks To Watch This Month
- Roku Inc (NASDAQ: ROKU)
- FuboTV Inc (NYSE: FUBO)
- Netflix Inc (NASDAQ: NFLX)
Roku
Roku pioneered streaming to the television (TV). The company’s mission is to be the TV streaming platform that connects the entire TV ecosystem around the world. Today, Roku streaming devices are accessible to consumers in North America, Latin America, and parts of Europe including the UK, Ireland, and France. By giving consumers the content they love, Roku can monetize large audiences and provide advertisers with unique capabilities to engage consumers.
It is undeniable that ROKU stock has been on a downward spiral over the past year. However, it does not mean that the company no longer has upsides moving forward. For investors, several encouraging developments may sway public sentiment. Firstly, Roku announced Roku’s Advertising Watermark last month. This is a free technology to help advertisers and publishers validate the authenticity of video ads originating on the Roku platform. Thus, it would give marketers the confidence that their products are in fact reaching real Roku users.
Furthermore, Roku announced its membership and participation in Sound Hub Denmark, a world-class sound and acoustics growth hub. Roku will join other members including Bang & Olufsen, Harman, and Dynaudio to provide coaching and mentoring. In addition, it would also present on topics around home theaters and audition at Sound Hub Denmark events. Overall, these appear to be steps in the right direction as the company continues to plan for long-term growth. With that in mind, would you consider adding ROKU stock to your watchlist?
FuboTV
Another attractive streaming company today is FuboTV. For the uninitiated, the company is a sports-first live TV streaming platform. Its users will have access to various live sporting events annually as well as news and entertainment content. In this modern world, it is paramount that customers have the ability to access content through a variety of devices such as mobile phones, tablets, computers, and SmartTVs. And surely, fuboTV appears to live up to the expectations.
While the company may not be a household name like Netflix or Disney in the streaming industry today, it still packs plenty of potential, especially among sports enthusiasts. In February, FuboTV announced its fourth quarter and full-year 2021 financials. Its annual revenue came in at a record $637 million, up by a whopping 144% year-over-year. Not to mention, the company closed the year with 1.13 million total paid subscribers, more than double that of the prior year. As such, FuboTV is able to announce strong guidance for 2022, expecting to drive over $1 billion in total revenues this year.
Moreover, the company along with Kantar started the month of March by announcing a collaboration. Kantar is one of the world’s leading data-driven analytics and brand consulting companies. So, the partnership will leverage Kantar’s flagship media effectiveness product Brand Lift Insights to allow advertisers to run campaigns on fuboTV with a better understanding. Advertisers and marketers will be able to keep track of the effectiveness of their connected TV advertising and compare it against that of their competitors. Given the prospects of FuboTV at its current price point, would you consider FUBO stock an interesting investment opportunity?
[Read More] Top Stock Market News For Today March 9, 2022
Netflix
When it comes to content streaming, Netflix requires little to no introduction. Netflix has paid streaming memberships in over 190 countries around the world and is still expanding. Subscribers could access Netflix content through a range of Internet-connected devices at any time and anywhere. Thus, it is not surprising that investors are often keeping tabs on NFLX stock. With the stock declining by over 40% this year, could things be turning around soon?
In fact, Netflix has been tapping into the gaming industry lately. Last week, it announced that it has entered into a combination agreement to acquire Next Games. With its seasoned management team along with a strong track record with mobile games, this would boost Netflix’s ambitions in the gaming space. Starting with its strategy to develop games based on popular entertainment titles such as Stranger Things, this would naturally entice fans to try out these games. So, it would be safe to assume that there will be more gaming content coming from Netflix soon.
Additionally, investors should note that Netflix has been added to Verizon’s (NYSE: VZ) Plus Play platform. Therefore, Verizon customers can discover, purchase, and manage their Netflix subscriptions through the platform. Well, this would serve as another avenue where consumers could get exposure to Netflix and its variety of entertainment content. With that said, would you be betting on NFLX stock to rebound from its current lows?
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