The entertainment industry is a diverse and rapidly-evolving sector. It encompasses several businesses such as film, television, music, sports, gaming, and live events. The industry has witnessed significant growth in recent years, thanks to technological advancements and the increasing demand for content. The entertainment market is highly competitive, and success largely depends on the ability to adapt to changing consumer trends and preferences.
Entertainment stocks refer to shares in companies that operate in the entertainment industry, including well-known companies such as those in film production, streaming, and cable. These companies are known to generate high returns for investors due to their consistent production of profitable content. Nevertheless, investing in entertainment stocks also involves risks such as changes in consumer behavior, regulatory changes, and competition from new entrants.
Investors interested in buying entertainment stocks should conduct comprehensive research and analysis to determine the company’s financial health, growth prospects, and competitive landscape. Additionally, investors should keep up-to-date with the industry’s trends and events that could impact the performance of entertainment stocks. With this being said, let’s dive into three entertainment stocks to check out in the stock market now.
Entertainment Stocks To Watch Right Now
- Roblox Corporation (NYSE: RBLX)
- Netflix Inc. (NASDAQ: NFLX)
- The Walt Disney Company (NYSE: DIS)
Roblox (RBLX Stock)
Roblox Corporation (RBLX) is an online gaming platform that allows users to create and play games in a virtual world. The company went public in March 2021 and has shown strong growth since then, driven by its expanding user base and increasing monetization efforts.
Earlier this week, Roblox announced key metrics for February 2023. In detail, the daily active users (DAUs) increased by 22%, reaching 67.3 million, while the hours engaged rose by 24%, reaching 4.6 billion. Additionally, the estimated revenue and bookings also saw growth, with revenue estimated to be between $214 million and $217 million, up 20% – 22% year-over-year.
Year-to-date, shares of RBLX stock have increased by 57.59% so far. Meanwhile, during Friday’s mid-morning trading session, Roblox stock is trading lower on the day by 3.15% at $43.90 a share.
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Netflix (NFLX Stock)
Next, Netflix Inc. (NFLX) is a leading streaming service provider that offers a wide range of movies, TV shows, and original content. The company has been a major disruptor in the entertainment industry, as its subscription-based model has changed the way people consume media.
This week, Netflix announced the date it will be releasing its Q1 2023 financial results. Specifically, the company said it will announce its first quarter 2023 financial results on Tuesday, April 18, 2023, after the U.S. stock market close. In the previous quarter’s release, the company said it expects Q1 2023 earnings of approximately $2.82 per share, on revenue estimates of approximately $8.17 billion.
In 2023 so far, shares of NFLX stock have advanced by 2.19% year-to-date. While, on Friday, shares of Netflix stock have fallen by 2.64% on the day at $301.86 per share.
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Walt Disney Co. (DIS Stock)
Lastly, The Walt Disney Company (DIS) is a diversified media and entertainment conglomerate. The company operates in several segments, including theme parks, film, television, and streaming. The company’s iconic brands, such as Marvel, Star Wars, and Disney, have a loyal fan base and contribute significantly to its revenue.
Last month, Walt Disney Co. reported better-than-expected Q1 2023 financial results. Diving in, the company released earnings of $1.10 per share, on revenue of $23.5 billion. This is versus the consensus estimates for the quarter which were earnings per share of $0.80, with revenue estimates of $23.3 billion.
YTD, shares of Walt Disney Co stock are up 4.73% so far. Moving along, during Friday’s mid-morning trading session, DIS stock is down 1.08% on the day so far at $93.27 a share.
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