Forget Netflix (NFLX): 10 Better Streaming Stocks to Buy Now insidermonkey.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insidermonkey.com Daily Mail and Mail on Sunday newspapers.
5 Best Streaming Stocks to Buy Now
Total Value of Hedge Fund Holdings: $3.23 Billion
Ranking 5th in our list of the 10 best streaming stocks to buy now is digital media manufacturer Roku, Inc (NASDAQ:ROKU). California-based Roku, Inc has over 51.2 million active users. Last month the company purchased Nielsen Holdings PLC (NYSE:NLSN) and integrated Nielsen’s advertisements and material measurement items into the Roku platform.
Roku, Inc (NASDAQ:ROKU) has a market cap of $41.0 billion and total net revenue of $319 million in 2020. On April 29, Wedbush analyst Michael Pachter upgraded Roku Inc. from Neutral to Outperform. Shares of ROKU gained 169% over the past twelve months.
10 Best Streaming Stocks to Buy Now
The demand for the streaming industry continues to grow, given its ability to adapt to service repositories that are diverse enough to draw and maintain consumers. The COVID-19 further highlighted the success of the streaming industry, which experienced new patterns amidst the pandemic. According to consulting firm Deloitte, in an October 2020 survey, 76% of respondents mentioned they subscribe to at least one paying channel, up 21% from 2018. Consumers who pay for a premium online video channel have an average of five accounts, increasing from three before the pandemic.
The streaming industry has become a platform for consumer engagement both for content creation and connection of manufacturers to their consumers. An article published by the consulting firm Mckinsey mentioned that spending on streaming services increased at a compound annual rate (CAGR) of 33%. According to a study from Statista, Video Streaming (SVoD) is expected to generate re