2022 was tough for media stocks like Netflix and Disney, and 2023 doesn’t look good, either
Media stocks got rocked this year, with companies losing billions of dollars in market value, as streaming subscriber growth waned and the advertising market worsened.
The pain is likely to continue in the first half of 2023, according to media executives and industry analysts.
Disney and Warner Bros. Discovery, two companies undergoing transitions, especially when it comes to streaming, each hit 52-week lows in recent days. So far this year, Warner’s stock is down more than 60% and Disney is off more than 45%.
The media industry has come to a turning...