As we head into another media earnings season beginning with Netflix on Oct. 18, investors have little to be excited about. For all intents and purposes, the media sector is a bit of a mess right now.Though the failed negotiations aren’t going to cripple the biggest studios, it’s certainly not good news at a time when the industry needs every possible win.
The major media stocks haven’t been doing very well. In the third quarter, only Roku and Comcast were able to outperform the broader market. Meanwhile, the biggest losers during those three months were Paramount and Netflix. And operationally, Comcast is being more efficiently run than its peers. Not to mention, Comcast has some of the healthiest free cash flow in the sector. While it’s not necessarily a growth stock by any traditional sense of the measure, it’s chugging along despite market challenges, and these days, that’s enough for most investors.
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