Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
Entertainment is an indispensable part of human life now. Though not essential, it is a luxury that most people can easily afford. That makes entertainment companies profitable enterprises and their stock, a money-spinner. Today, OTT platforms, media houses, and film distribution companies make plenty of money. During the pandemic, the industry suffered a lot.
But it quickly recovered as the virus subsided. Currently, every platform of entertainment is receiving a great response. People are flocking to theaters, cinema halls, amusement parks, etc. They are also consuming a high volume of content through streaming media. As a result, the shares of entertainment companies are performing really well.
Besides the usual ups and downs, they are generating great profits for their investors. Therefore, talking about some of those stocks makes a lot of sense.
Entertainment Stocks That Every Investor Should Know About
These stocks have consistently performed well in the markets. Their operations have remained largely customer-centric and investor-friendly.
1. Roku Inc. (NASDAQ: ROKU)
Roku is a TV streaming service that offers movies, TV shows, news, sports, and other content. The company has kept its entertainment quite relatable to the dynamic audiences today. As a result, experts consider its stocks a profitable deal. Cathie Wood’s ARK is its largest stakeholder with 12 Million shares.
2. Dave & Buster’s Entertainment Inc. (NASDAQ: PLAY)
Dave & Buster’s runs dining and entertainment hubs across North America. They cater to families and adults with a huge variety of food, televised events, live sports, and games. As of August 2023, it has been a profitable stock to invest in. The firm has positive ratings and rankings from most agencies.
3. DraftKings Inc. (NASDAQ: DKNG)
DraftKings runs establishments that offer gaming, sports betting, and digital sports entertainment in the US. According to estimates, its revenue will reach the $3.1 Billion threshold this year. The legalization of online sports betting has given a boost to its business. It has also received attention from hedge funds, rating companies, and big-time investors.
4. World Wrestling Entertainment, Inc. (NYSE: WWE)
World Wrestling Entertainment needs no introduction. The company ruled the wrestling entertainment industry for years and still reigns supreme. It reaches almost every country that has a satellite TV facility. For all obvious reasons, it’s a cash cow for its investors. The prospects of blending WWE and UFC are getting many investors excited.
5. Madison Square Garden Sports Corp. (NYSE: MSGS)
MSGS is a professional sports organization with multiple offerings. It includes the National Hockey League, the New York Rangers, and the National Basketball Association. Besides them, the company has two development league teams, one in NBA and another in American Hockey. It is one of the most promising sports entertainment stocks of the year.
Conclusion
With entertainment stocks, one can diversify and liquefy their portfolios. The stocks emerge as major profit gainers for the investors. The companies mostly eke out better profit margins in every quarter. They keep upping the ante for their consumers and keep ameliorating their services as well. They continue to be dominant in their space and their stocks keep generating profits. All these prospects make entertainment stocks worthy for every investor.
Source: https://www.thecoinrepublic.com/2023/08/25/top-5-entertainment-stocks-that-will-profit-its-holders/