Top executives at media and entertainment giants will be happy to see the end of the first half of 2023, where stock sell-offs and analyst downgrades were recurrent features of their year to date.
In 2022, most Hollywood stocks fell sharply amid pressure by Wall Street on media to push streaming businesses to profitability, increased cord-cutting pressures and a challenged advertising market amid inflation-induced recession fears. From 30,000 feet, many sector shares have returned to healthy growth, while others struggle with declines or slower gains amid industry headwinds.
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