Media stocks saw sharp declines in May, as poor earnings reports and the ongoing writers' strike is hurting the industry. More challenges may lie ahead, especially the longer the writers' strike goes on. Paramount, Disney, and Warner Bros. Discovery all saw double-digit declines in stocks over the past month. They fell roughly 32%, 14%, and 17%, respectively. - Comcast, which owns NBCUniversal, saw its stock price fall 6% over May.
- Netflix, thanks to its crackdown on password sharing, saw a 20% gain, as revenue will be driven by people having to sign up for their own accounts.
- Netflix also released positive data surrounding its ad-supported tier, which is another money maker for the streamer.
- Disney saw its biggest decline in the past six months but will aim to bundle Hulu and Disney+ together in the near future, simplifying the app experience.
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