Golden Globe Wins To Boost These Streaming Media Stocks

This year’s Golden Globe Awardson Jan 5 showcased Hollywood’s changing streaming landscape, which has come to be dominated by a band of original shows offered by prominent streaming media companies. The quality content of the shows was not only a major factor behind the 77th Golden Globe Awards’ winners, but also ensured that the popularity of the streaming media shows remains top-notch.

The big wins of streaming media content at the 2020 Golden Globes ensured that the streaming space garnered more attention from subscribers, thus generating more business for these companies.

Netflix High on Nominations, AT&T Scores Best

The 2020 Golden Globes’ nominations were dominated by none other than Netflix, Inc. (NASDAQ:NFLX) in 34 categories (17 each in movie and TV). HBO, owned by AT&T Inc. (NYSE:T) , received 15 nominations, seconding the Stranger Things producer.

Despite walking into the ceremony with six nominations for Noah Baumbach’s Marriage Story and five for Martin Scorsese’s The Irishman, Netflix could only secure two awards. Marriage Story’s Laura Dern won best supporting actress and The Crown’s Olivia Coleman won best actress in a drama TV series for her role of Queen Elizabeth II.

In contrast, HBO won four awards with its shows Successionand Chernobyl. By the end of the award ceremony, AT&T, the owner of both HBO and Warner Bros., had won a total of six awards. These were the maximum number of awards won by any media company this year.

However, theaters and traditional TV channels may cringe at streaming media shows. It’s a fact that the quality content of the latter has been instrumental in helping these streaming media giants attain a strong foothold in the entertainment industry.

Netflix, with quality content shows such as The Two Popes, The Crown and Dolemite is my Name enjoys a strong paid subscriber base globally. At the end ofQ3 2019, the company had a base of 158.33 million paid subscribers globally.

The company’s earnings also jumped 65.2% year over year in the reported quarter. Netflix could gain immensely in terms of subscriber growth and streaming dominance ahead due to its remarkable 2020 Golden Globe nominations.

AT&T, on the other hand, is marching into streaming with HBO MAX in May 2020. HBO Original’s big wins at the Golden Globes this year is certain to boost its subscriber base ahead. Both Netflix and AT&T carry a Zacks Rank #3 (Hold).

Other Streaming Giants Not Far Behind

The Golden Globes weren’t just an arena for Netflix and AT&T, new competition has also emerged from the likes of The Walt Disney Company (NYSE:DIS) , Sony Corporation (NYSE:SNE) and ViacomCBS Inc. (NASDAQ:VIAC) , which won considerably on Sunday night.

While Disney won three awards for shows on Hulu and the FX network, Sony won three awards for Once Upon a Time in Hollywood and ViacomCBS got three awards for The Loudest Voice, Rocketman and I’m Gonna Love Me Again.

Sony sports a Zacks Rank #1 (Strong Buy) and ViacomCBS carries a Zacks Rank #2 (Buy). Disney carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

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