4 Top Streaming Stocks For Your Watchlist Right Now
Streaming stocks have prospered over the past year due to the pandemic. However, some may have reservations about the segment as things are slowly shifting back to normalcy. That said, streaming stocks remain some of the most active stocks in the stock market today. After all, streaming is the future of video and music entertainment. No one wants to be tied to a TV schedule, and streaming means that you can watch anything you want at any given time. However, the industry has become relatively competitive in recent times. But this is only natural for a product that’s rising in popularity.
Now, we even have e-commerce and tech giants Amazon.com, Inc (NASDAQ: AMZN) stepping up its game in the streaming industry. Towards the end of May, the company announced that it will acquire MGM Studios for $8.45 billion. This marks its boldest move yet into the entertainment and streaming industry. Now, it wouldn’t be surprising that smart investors are showing interest in the growing industry. Therefore, if you are keen to know more about some of the top streaming stocks in the stock market now, here is a list that may interest you.
Best Streaming Stocks To Watch Right Now
- Netflix Inc (NASDAQ: NFLX)
- fuboTV Inc (NYSE: FUBO)
- Walt Disney Co (NYSE: DIS)
- CBS Corporation (NASDAQ: VIAC)
Netflix Inc
First, we have one of the leaders in the subscription streaming industry, Netflix. It offers paid streaming memberships in over 190 countries and its subscribers would gain access to a variety of television (TV) series, documentaries, and feature films. Remember all the pesky commercials you would see on cable TV? With Netflix, members can play, pause and resume without any commercials.
NFLX stock may have been trading sideways since the start of the year. However, we are starting to see some positive price action over the past week. Could this be a sign that investors are expecting a strong second-quarter earnings report which is scheduled to be released on July 20, 2021? Well, only time will tell. But what we do know is that Netflix had a strong first quarter despite a slowdown in subscriber growth.
The company reported revenue of $7.16 billion, up by 24.2% year-over-year. Meanwhile, net income for the quarter was $1.96 billion, an increase of 14% year-over-year. It continues to anticipate a strong second half with plans for new additions in its exciting film lineup. In fact, Netflix has just added filmmaker Steven Spielberg to its roster on Monday. With an agreement to supply multiple movies a year for several years. So, could this be the time to add NFLX stock to your watchlist?
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fuboTV Inc
Coming up next, we will be looking at the leading sports streaming company, fuboTV Inc. As a key provider of sport-focused content, FUBO stock would be a top streaming stock to watch now. There are a few reasons why FUBO stock is back on investors’ radar right now. Firstly, with strong earnings and expanded partnerships, there aren’t many reasons not to like this company. From its first-quarter fiscal, revenue came in 206% higher year-over-year to $12.6 million. Besides, the company also continues to attract new advertisers with a high level of retention.
Of course, its most recent rally has something to do with the stock joining the broad-market Russell 3000 Index later this month. If anything, the move simply highlights how quickly fuboTV has managed to establish itself as an important company in the streaming space. But that shouldn’t be the sole reason for the stock to continue to move upwards. Instead, it is the underlying business that will determine how far FUBO stock can go.
Also, Fubo continues to make strategic plays even now. In early June, the fuboTV app became available on LG’s Smart TVs in the U.S. These would also include LG’s industry-leading LG OLED TV lineup. Through this collaboration, LG customers can now enjoy over 100 sports, news, and entertainment channels via the fuboTV app. With such exciting developments, is FUBO stock one of the top streaming stocks to buy?
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Walt Disney Co
Walt Disney is an entertainment company worldwide. The company operates in four business segments, Media Networks, Parks Experiences and products, Studio Entertainment, and Direct-To-Consumer and International. But did you know, the company’s Direct-To-Consumer & International segment operates international television networks and channels comprising Disney, ESPN, Fox, National Geographic, and Star. Furthermore, there are also streaming services such as Disney+/Disney+Hotstar, ESPN+, and Hulu.
Last month, the company announced its second-quarter earnings report for fiscal 2021. Total revenues for the quarter were $15.61 billion. Disney saw diluted earnings per share from continuing operations for the quarter increase by 92% year-over-year to $0.50. The company has been doing well largely because of its investment in Disney+. Its streaming business continued to grow with 103.6 million Disney+ subscribers at the end of the second quarter.
Recently, Loki, the third Marvel original series to be released on the platform, scored the highest five-day viewership streaming service has ever seen with 2.5 million U.S. households views. Given the company’s strong streaming service performance coupled with its parks reopening at close to full capacity, we could expect great things from its third quarter. With that in mind, would you consider investing in DIS stock?
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CBS Corporation
To sum up the list, we have the global media and entertainment company, CBS Corp. For those unfamiliar, CBS focuses on creating premium content and experiences for audiences worldwide. It operates through various brands, including CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, CBS All Access, among others. VIAC stock may have dropped significantly earlier this year, but it is noteworthy that the company stock still has risen over 75% over the past year. So, could one view this as a buying opportunity?
Earlier this month, the company announced a significant expansion of its content offering this summer. It starts with the exclusive premiere of the sci-fi action film “infinite” and the introduction of more than 1,000 premium movies. The new summer slate will roll out over the next several weeks, joining Paramount+’s already extensive content portfolio that is now available to subscribers at a new low-cost tier of just $4.99/month.
Just yesterday, CBS announced an enhanced content leadership structure for its global streaming services. The new structure elevates each of CBS’s global content leaders to oversee their respective genres within Paramount+. Also, Tanya Giles will be appointed as a centralized programming head to chart content strategy for Paramount+ and Pluto TV globally. Therefore, moving forward the company would ensure that it delivers to its audience the very best streaming experience with must-watch content across every genre. All things considered, would you view this as an opportunity to buy CBS stock on a dip?
