After 146 days, WGA has reached a tentative deal with Hollywood studios, which is one of the steps need to get film and television production going again. Needham & Co. Senior Analyst Laura Martin explains how strikes could impact the volume of content that streaming services produce. “Wall Street is demanding they.. move to profitability faster,” Martin says. For streamers, this could mean cutting down seasons by filming fewer episodes—“less content spending”, as Martin notes. Martin expects consolidation in the industry, which will help “get rid of duplicative costs.” In regards to smaller streamers, Martin states that due to large competitors such as Amazon (AMZN) and Netflix (NFLX) “there’s no advantage to being small.” For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
At a time when Bitcoin (CRYPTO: BTC) is up a head-spinning 60% for the year, and several popular altcoins are up more than 50% for the year, the underperformance by other top cryptocurrencies is particularly jarring. Two names that stand out for me are Avalanche (CRYPTO: AVAX), down 20% for the year, and Polygon (CRYPTO: MATIC), down more than 30% for the year. Let's start with Avalanche, which first burst into prominence as a potential Ethereum killer back in 2020.
Amazon (NASDAQ: AMZN) has soared more than 50% so far in 2023. Investors wanting to buy the stock shouldn't have a hard time finding a justification for doing so. On Sept. 22, 2023, Amazon announced that its Prime Video streaming service will begin including advertisements beginning in early 2024.