Roku was a champ. Lionsgate surged and Netflix jumped. Tech shares went bananas in 2023. Big media stocks had a mixed year of transition dominated by Hollywood strikes with linear television declines and streaming losses.
Paramount fell. Disney and Fox were basically flat on the year. Giants Comcast and Sony, which both have other businesses like broadband or games and music, both had nice runs.
Warner Bros Discovery gained a bit. All are pushing for profitability in streaming and progress there will influence how the stocks perform in 2024.
Relatively speaking, 2023 was a real bonanza compared with a truly dismal 2022 when only two – that’s two – media stocks rose for the year: WWE (now part of TKO Group) and Nexstar.
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