Should You Be Watching These Top Streaming Stocks Now?
If you told me that streaming stocks would be top stock market performers last year, I probably would not have believed you. Regardless, that is the case right now. Thanks to the coronavirus pandemic, streaming services have become the go-to form of entertainment. For most of the general population who are stuck at home, streaming services have become a part of their daily routine. Whether it is video content, music, or even a good podcast, if there is some form of media there’s a means to stream it.
Some of the top streaming stocks are having their best year on the stock market right now. For example, Spotify (SPOT Stock Report) and Roku (ROKU Stock Report) are seeing their share prices up by over 100% year-to-date. As a result, it has produced numbers that will likely blow you away. In its most recent quarter, Spotify reported a total of 320 million monthly active users with 144 million of those being premium subscribers. With the elimination of in-person means of entertainment, the market is practically reliant on streaming services. This huge shift in entertainment stocks has created a vacuum that investors and companies alike have eagerly filled.
In light of this, you may be wondering which streaming stocks are worth investing in now. Especially now when it seems as though many companies have caught on to this trend. To help you with that, here is a list of the top streaming stocks to watch now.
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Best Streaming Stocks To Watch This Week: Walt Disney Co
Odds are if you grew up in this age you know the works of Disney (DIS Stock Report). The company has indeed come a long way since its inception as a small animation studio in the 1920s. For the most part, we will be talking about its streaming service Disney+. The streaming service features a collection of the company’s best media offerings. This ranges from episodic series to movies from the plethora of IP’s owned by the company. DIS stock is trading at $169.24 a share as of 4:00 p.m. ET, slightly down from its all-time high last week.
On December 10, Disney held its annual Investor Day and definitely impressed investors, to say the least. The company announced a barrage of ambitious projects for its Disney+ streaming services during the event. These include over a hundred movies and shows with connections to their flagship IPs; Star Wars, Marvel, FX, and National Geographic. To say that the company is going all out on its streaming services is a grave understatement. Furthermore, Disney also revealed that there are currently 86.8 million subscribers. To put things into perspective, its initial subscriber goal for 2024 was 60 million. This number has now been changed to the range upwards of 230 million.
Disney appears to be very confident about its answer to rival Netflix (NFLX Stock Report) and has every right to be. Despite experiencing heavy losses from its key sources of revenue this year, Disney still presses on. Its strategy of focusing on its current strengths and continuously impressing investors is a solid one by all accounts. The question is, will this be enough to propel DIS stock to new heights in 2021? I’ll leave that to you to decide.
Best Streaming Stocks To Watch This Week: Amazon.com Inc
Next up, we have the ever-expanding Amazon (AMZN Stock Report). From e-commerce to artificial intelligence and digital streaming, Amazon’s presence can be felt throughout the business world. In the context of this list, we will be focusing on its subscription-based video-on-demand platform Amazon Prime Video (APV). APV hosts a wide array of content made by the company along with external content such as live sports. The company’s shares are up by over 60% year-to-date.
This could be at least in part due to the company’s APV announcement made today. Amazon will be working with Comcast (CMCSA Stock Report) subsidiary Sky Group to bring APV to subscribers in Europe. The deal will make APV available to millions of subscribers across the UK, Ireland, Austria, Germany, and Italy. APV also provides a more traditional twist to its streaming package with its sports programming. This could give it an edge over its rivals in the older client base who are transitioning over from cable operators. Moreover, Amazon’s annual Prime subscription comes with a bunch of other services on its e-commerce platforms as well. Customers looking for an all-in-one package would probably be more inclined to subscribe.
Amidst all the heated competition for consumers’ subscription cash, APV appears to be holding its own ground. In January, there were over 150 million subscribers on the platform. Coupled with the other services available with a Prime subscription, the company’s Prime subscription is a force to reckon with. Correspondingly, the company’s third-quarter fiscal released in October revealed that subscription revenue was up by 33% year-over-year. With all this in mind, do you think AMZN stock is worth adding to your 2021 watchlist?
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Best Streaming Stocks To Watch This Week: AT&T Inc
Another key player in the streaming industry at the moment is AT&T (T Stock Report). The telecom giant’s move to acquire WarnerMedia back in 2018 puts it in an interesting position at the moment. That is to say, it is the owner of subscription-based streaming service HBO Max. It was launched earlier in May and boasts impressive offerings consisting of all the programming from WarnerMedia’s HBO. As of October, the platform has a total of 57 million paying subscribers worldwide. For one thing, AT&T’s share prices are up by over 7% since the start of December.
This jump in activity could be partially due to the announcement made by WarnerMedia at the start of December. It was announced that all of HBO’s 2021 movies would be released simultaneously on HBO Max next year. Although the offerings will only be available for a month, this bold strategy is the company’s means of keeping up with its rivals. The collection of movies to be added include entries from The Conjuring, Godzilla, Looney Tunes, and Matrix IP’s. Consequently, HBO Max could see a flood of new subscribers when this is implemented.
Undoubtedly, this would also cater to the existing subscribers giving them the incentive to remain on the platform. In AT&T’s recent quarter fiscal released in October, the company saw HBO Max activations double from the previous quarter. Should things go as planned, this could play out well for the company on the streaming front. However, only time will tell if this will bring about long-term benefits for AT&T as a whole. Given the above, would you consider T stock a top streaming stock to watch in 2021?
