Netflix was the breakaway winner among media stocks in 2024, with its shares nearly doubling in price over the course of the year.
The article from Variety discusses the outlook for media stocks in 2024, focusing on major players like Netflix, Disney, and Warner Bros. Discovery. It highlights that while the media industry faced significant challenges in 2023, including strikes by the Writers Guild of America and SAG-AFTRA, there's a cautious optimism for recovery in 2024. Netflix is expected to continue its growth trajectory, bolstered by its international expansion and ad-supported tier. Disney, under CEO Bob Iger, is navigating through cost-cutting measures and strategic shifts towards streaming, with potential asset sales like ESPN. Warner Bros. Discovery, after a tumultuous merger, is focusing on reducing debt and enhancing its streaming service, Max. The article also touches on the broader industry trends, including the impact of cord-cutting, the rise of streaming services, and the potential for mergers and acquisitions as companies seek to adapt to the evolving media landscape.
