5 Top Entertainment Stocks To Watch Right Now
The stock market today offers no shortage of exciting opportunities. Among them, entertainment stocks have been a sector that has been in focus due to obvious reasons. During the pandemic, many people would explore various forms of entertainment that can easily be reached from the comfort of their homes. So, did the pandemic leave a mark on the entertainment industry? Just look at the growth of companies that offer streaming services such as Netflix (NASDAQ: NFLX). Despite predicting a slowdown in subscriber additions for the coming quarter, it’s worth pointing out that the company gained almost 55 million subscribers over the past 2 years. The company now boasts nearly 222 million worldwide subscribers.
Another rising entertainment trend lately would be sports betting. We saw the state of New York shattering the mobile sports betting record in less than a month of operation. It appears that The Empire State handled approximately $1.62 billion in sports wagers from January 8 to January 30. This is more than double that of the previous opening month record set by Arizona. Capitalizing on the trend, Caesars Entertainment (NASDAQ: CZR) handled $615.5 million while Flutter Entertainment’s (OTCMKTS: PDYPF) FanDuel and DraftKings (NASDAQ: DKNG) were second and third on the list. With all said and done, with the entertainment industry’s vast offerings, there is something for everyone. So, here is a list of some of the top entertainment stocks in the stock market today.
Entertainment Stocks To Watch This Week
- Walt Disney Co (NYSE: DIS)
- Zynga Inc (NASDAQ: ZNGA)
- Roku Inc (NASDAQ: ROKU)
- Comcast Corporation (NASDAQ: CMCSA)
- Electronic Arts Inc (NASDAQ: EA)
Walt Disney
By now, most people would be familiar with what Walt Disney has to offer. The worldwide entertainment company operates in four segments, Media Networks, Parks, Experiences and Products, Studio Entertainment, and Direct-To-Consumer and International. Coincidentally, Disney launched its Disney+ streaming service right before the onset of the pandemic. The timing was impeccable as people around the world were forced to stay indoors and the popularity of streaming skyrocketed. With that said, the company now offers one of the best streaming services in the world today.
During its fourth quarter, its revenue increased to $18.5 billion, up 26% from the prior year’s quarter. Meanwhile, its diluted earnings per share improved to $0.09 compared to a loss of $0.39 in the prior year’s quarter. Disney made great strides in reopening its businesses and celebrated the two-year anniversary of its Disney+ streaming service. Impressively, the company saw a subscriber growth of 60% year-over-year. This is a testament to its ability to produce high-quality entertainment despite being relatively new to the streaming space. So, now that it will be reporting its fiscal first-quarter 2022 earnings on February 9, would you consider investing in DIS stock ahead of time?
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Zynga
Following that, we have the provider of social game services, Zynga. Essentially, the company specializes in social games as live services played on mobile platforms and social networking platforms. Some of its most notable products include FarmVille, Toon Blast, Zynga Poker, and many more. Well, its live services platform captures insights about how its players interact with its games. Hence, the company utilizes this data to continuously deliver engaging interactive experiences for its players.
In January, the company and Take-Two Interactive (NASDAQ: TTWO) announced that they have entered into a definitive agreement. Under this agreement, Take-Two will acquire all of the outstanding shares of Zynga in a cash and stock transaction.
This transformative partnership would unify two global leaders in the interactive entertainment business. So, both companies can further advance their mission to connect the world through games while achieving significant growth and synergies together. Since then, ZNGA stock has risen more than 50%. With that in mind, would you be watching the stock?
Roku
Another top entertainment company to note would be Roku. Put simply, the company operates a television streaming platform. Through its streaming players and television (TV)-related audio devices, consumers can discover and access a variety of streamable content. Also, the company also has its very own Roku TV that is available in the U.S. and select countries. Well, ROKU stock has been under pressure over the past few months. Could this be an attractive opportunity to buy the dip?
Last week, the company announced the launch of Nielsen’s Digital Ad Rating audience guarantees on OneView. This makes OneView the first ad-buying platform to enable Nielsen guarantees across TV streaming. Therefore, OneView users can now choose a specific age and gender demographic and pay only for the ad impressions that reach their target audience. On top of that, data points from its direct relationship with consumers would make Nielsen audience guarantees more precise. Hence, publishers will likely save money by wasting fewer ad impressions in the long run. All in all, could this positive development turn the tides for ROKU stock long term?
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Comcast
Comcast is a media and technology company that operates worldwide. Largely known for its Xfinity brand, the company offers broadband, video, voice, and wireless services to its customers. Not to mention, NBCUniversal is one of the world’s leading media and entertainment companies that caters to a global audience.
Now, users on the Xfinity app can have access to a stunning 8K resolution coverage of the Beijing Winter Olympics. NBC announced that the app will feature more than 150 hours of live and on-demand interactive virtual reality coverage. Also, viewers can host a virtual Olympics watch party and invite up to three friends to join in the fun. Thus, they can interact together and enjoy an immersive live coverage of Olympic events as if they were in the same room. Given all these factors, would CMCSA stock be a viable investment now?
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Electronic Arts
Gaming has long been a form of entertainment that caters to niche audiences. However, it has been gaining popularity in recent years. Electronic Arts (EA) is among those that benefit from this trend. In detail, EA is a digital interactive entertainment company that specializes in games, content, and services that can be played by consumers. With games such as The Sims, Apex Legends, and FIFA on its portfolio, the company is a juggernaut in the gaming space right now.
Recently, EA announced its preliminary financial results for its fiscal third quarter. It was a record quarter for the company as it recorded the highest net bookings, underlying profitability, and cash generation. Net bookings for the quarter were $7.25 billion, an increase of 22% year-over-year. Also, the EA player network has grown to more than 540 million unique active accounts. Safe to say, it has been an outstanding year of growth for the company. All things considered, do you believe there will be more room to grow for EA stock?
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