Variety, which analysed how the shares of the giants of the entertainment industry were performing in 2023, published a news article titled “Taking Stock of 2023: How Shares of Disney, Netflix, Warner Bros. Discovery and More Fared This Year”.
Accordingly, Hollywood, which had a series of difficulties in 2023, did not have any special problems when it came to the stock market, on the contrary, Wall Street is preparing to complete 2023 with double-digit increases.
MAJORITY SAW THEIR SHARES RISE
As of 27 December, the S&P 500 index has risen 25% year-to-date, approaching an all-time record closing high. And in general, the majority of media companies saw their shares rise over the past 12 months, rebounding from a disastrous 2022.
Some experienced significant reversal in stock performance, led by Roku (up 134% between Jan. 3 and Dec. 26), as investors regained enthusiasm for its streaming outlook amid the company’s cost-cutting moves. Other gainers were Lions Gate (+89%), Amazon (+79%), Netflix (+67%), Apple (+55%), Comcast (+26%), Sony (+22%), Warner Bros. Discovery (+21%) and AMC Networks (+15%). Those with smaller bumps, but bumps nonetheless, include Endeavor (+12%), Disney (+2.2%) and Imax (+2%).
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