and most Hollywood studios fell to earth. Then in 2023, major media and technology players had another grim year with investors as faith in streaming took another hit. But in 2024, signs of progress in streaming business profitability and renewed M&A talk helped the stocks of some of the sector biggies.
Morgan Stanley analyst Benjamin Swinburne in a Dec. 18 report wrote that in 2024, “the divergence in performance was stark between those with secular growth tailwinds – a media & entertainment ‘winner’s circle’ – and those that are more purely cyclical or face secular headwinds.” Despite Netflix’s strong run amid hit content and competitors’ reduced spending, many Wall Street bulls remain optimistic. “Our view remains unchanged that Netflix has won the global streaming race as evidenced by year-to-date results/raised guidance , and this is what, in our opinion, winning looks like,” wrote Pivotal Research Group analyst Jeff Wlodarczak in late November, boosting his stock price target to a Street high of $1,100.
$111.35, roughly in line with the broader market. “In 2025, we are confident Disney will realize improved financial performance in its direct-to-consumer unit and better-than-expected results in Experiences ,” CFRA Research analyst Kenneth Leon wrote in a Dec. 26, in which he raised his stock price target by $8 to $128 and boosted his earnings forecasts for the current and next fiscal year. “In our view, DTC has turned the corner to profitable growth with healthy subscriber growth.