Many industries in the stock market were affected by COVID-19 and entertainment stocks were no exception. The pandemic not only changed the way we practice our daily routine, but it also changed the way we seek entertainment. Depending on what type of entertainment a company provides, some benefitted from the pandemic while others suffered greatly. However, the entertainment industry has also experienced firsthand the ripple effects that new technology has on how people consume content. For example, we are witnessing a transformation where consumers are slowly shifting from cable television to streaming services. 

Well, streaming services offer more curated content libraries to consumers at a fraction of the price. On top of that, streaming platforms offer commercial-free experiences as well. Take Netflix Inc (NASDAQ: NFLX) and Spotify Technology SA (NYSE: SPOT) for instance. Both companies had a significant increase in subscribers during the pandemic for obvious reasons. Netflix had 36.57 million new members in 2020. That represented an increase of 31.4% compared to the previous year. Spotify on the other hand will be allowing podcasters on its platform to offer subscriptions to their shows. This is in hopes of reeling in more subscribers and podcasters alike. In brief, investing in the entertainment industry is a popular path among many investors in the stock market today. The industry has been a major part of everyone’s daily life. Now, let us look at some of the top entertainment stocks right now.

Entertainment Stocks To Buy [Or Sell] Today

Walt Disney Co 

First, we have the leading worldwide entertainment company, Disney. The company operates a broad range of businesses, including theme parks, resorts, a cruise line, broadcast TV networks, and related products. Disney also produces live entertainment events and produces and streams a wide range of film and TV entertainment content through its relatively new digital streaming services. Just last week, the company announced that its theme park in California is reopening for the first time in over a year. For now, it is only open to California residents, and the capacity is limited to 25% to promote social distancing. However, this is still a great step for the company as we prepare for the post-pandemic world. 

entertainment stocks (DIS stock)
Source: TD Ameritrade TOS

Despite being heavily affected by the pandemic, the company’s stock has been performing relatively well in the stock market. It has seen gains of over 80% for the past year. This is likely due to its new streaming service Disney+ which was introduced in late 2019. People were stuck at home and the demand for streaming services certainly increased during the pandemic.

Also in April, the company announced a deal with Sony Pictures Entertainment that would give Disney U.S. television and streaming rights to Sony’s movies. Giving people access to yet another set of movies in its ever-growing collection of Marvel properties could give people more reason to subscribe to Disney+. So with that in mind, would you consider buying DIS stock now?

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Imax Corp 

IMAX Corporation is an entertainment technology company, specializing in motion-picture technologies and large-format motion-picture presentations. From the introduction of stadium seating to developing the highest-resolution camera in the world to its laser projection technology and partnerships with the world’s best filmmakers, there is no one like IMAX. The company has more than 1,500 IMAX theatres in more than 80 countries and territories around the globe. Despite having most of its theatres closed during the pandemic, the company’s stock has shown significant results over the past year. IMAX stock has risen over 80% in that duration. 

top entertainment stocks (IMAX Stock)
Source: TD Ameritrade TOS

Last week, IMAX announced its Q1 financial results. IMAX delivered a global box office of $110 million for the quarter, marking the company’s first year-over-year quarterly box office growth since the pandemic began. This is driven by a strong rebound of moviegoing in Asia and encouraging performances at the multiplex as other global markets reopen.

On top of that, the company also announced in April that it will be extending its partnership with Barco. The collaboration will optimize the use of Barco’s latest laser light source technology, enabling IMAX to convert all of its over 1,000 systems to laser over time. Hence with the economy reopening as we speak, would you buy into the future of IMAX stock?

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Warner Music Group Corp 

Next on the list, we have music entertainment company, Warner Music Group (WMG). The company operates through two segments: Recorded Music and Music Publishing. With a legacy extending back over 200 years, the company today is home to many creative artists, songwriters, and companies that are moving culture across the globe. This includes record labels such as Warner Records, Atlantic Records, Asylum, Fueled by Ramen, and more.

best entertainment stocks (WMG stock)
Source: TD Ameritrade TOS

Last Friday, Warner Music established a global partnership with Genies to develop avatars and digital wearable NFTs for WMG’s artists. Through this partnership, WMG’s artists will be able to produce and distribute virtual beings that facilitate fan reach across immersive platforms and metaverses.

Furthermore, the company also made another groundbreaking announcement on Monday. It will be investing and forming a partnership with Wave, the leader in virtual entertainment. Through this collaboration, Wave will develop virtual performances, experiences, and monetization opportunities for WMG’s global roster of artists. This will include new forms of ticketing, sponsorship, and in-show interactions for fans. So, would you invest in WMG stock with all these new collaborations in mind?

[Read More] Best Stocks To Invest In 2021? 4 E-Commerce Stocks To Know

Roku Inc 

Last on the list, we have a company that pioneered streaming to the TV, Roku. Today, the company’s streaming devices are used by millions of consumers globally. Furthermore, it enables content publishers to build and monetize large audiences and provides advertisers with unique capabilities to engage consumers. The sentiment around Roku has generally been positive among investors for the past year. ROKU stock has risen by a staggering 180% year-over-year. This could be due to the high demand for streaming services during the pandemic as the majority of the people were staying at home.

top entertainment stocks to buy (ROKU stock)
Source: TD Ameritrade TOS

Investors would likely be keeping a close eye on the company as it will be reporting its earnings reports this coming Thursday. Wall Street expects a year-over-year increase in earnings on higher revenues for the quarter ended March 2021.

Also, Roku will be rebranding the content from the Quibi acquisition in January as “Roku Originals”. This will be available on The Roku Channel. Viewers will then be able to enjoy diverse entertainment that is accessible to everyone, everywhere The Roku Channel is available. With these developments, will you be watching ROKU stock now?

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