BY ADENIYI A.
Recently, the American stock market has been really harsh on the media and entertainment sector. In the past two weeks, entertainment stocks seem to be on a free fall.
Disney first called the attention of stakeholders to the change in consumer’s habits leading to a slower growth rate of cable networks all due to them reducing their use of pay TV.
No media outfit has been spared whether big or small as there was a sharp decline across boards. Below are the statistics and the rate of the fall in stock.
1. Disney: By 18 percent
2. Viacom: By 21 percent
3. Sony: By 4 percent
4. 21st Century Fox: By 4 percent
5. Comcast: By 3 Percent
6. CBS: By 2.5 Percent
7. Sony: By 6 Percent
8. Dreamworks: 5 Percent
9. AMC: By 5 Percent
10. Discovery Networks: By 5 Percent
11. IMAX: By 6 Percent
12. Dish Network: By 4 Percent
13. Lionsgate: By 4 Percent
However, as opposed to the statistics is the steady rise of Netflix in the last stock trading. This is likely due to the increase in the trend of streaming. Every other area of the media where hit, even the new media with Twitter falling by 6%, Facebook by 5% and Google by 2% and Yahoo by 3%.