The largest US media companies have collectively shed nearly $400bn in market value this year, as recession worries, an advertising slowdown and post-pandemic audience trends ignited a “perfect storm” for Netflix and its peers. Big US media stocks have fallen on average by 35 per cent since the start of the year, compared with a 13 per cent decline in the S&P 500 index, resulting in total losses of $380bn in market capitalisation. Executives and analysts blamed a confluence of factors for the bursting of the Netflix-fuelled bubble in media stocks. Read More...
The largest US media companies have collectively shed nearly $400bn in market value this year, as recession worries, an advertising slowdown and post-pandemic audience trends ignited a “perfect storm” for Netflix and its peers. Big US media stocks have fallen on average by 35 per cent since the start of the year, compared with a 13 per cent decline in the S&P 500 index, resulting in total losses of $380bn in market capitalisation. Executives and analysts blamed a confluence of factors for the bursting of the Netflix-fuelled bubble in media stocks.
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