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Our 3 Top Streaming Media Stock Picks for 2023

Streaming stocks gained tremendous momentum during the pandemic years. Streaming services provided an escape for millions locked away in their homes. Though the pandemic is firmly in the rear-view mirror, online content consumption will continue to grow amidst the step-changes over the past couple of years. Therefore, heading into next year, it’s an ideal time for investors to look into the best steaming media stock picks for 2023.

The pandemic accelerated the streaming trend to new heights, and with economies opening up, there are still plenty of opportunities to invest in streaming. Multiple years of growth lie ahead in the sphere, and investors should take advantage of those opportunities at discounted rates at this time. According to Grand View Research, the global video streaming market can reach $330.5 billion by 2030, forecasted to grow at 21.3% from 2022 to 2030. With that said, here are three needle-movers in the streaming space that are worth investing in at current levels.

Ticker Company Price
NFLX Netflix $290.41
DIS Walt Disney $90.49
SPOT Spotify $72.36

Netflix (NFLX)

Source: xalien / Shutterstock

Netflix’s (NASDAQ:NFLX) stellar third quarter flipped the narrative surrounding the company. After losing paying subscribers in the past two quarters, investors welcomed the news that it added 2.4 million new subscribers during the third quarter. Netflix’s guidance of 4.5 million new subscribers during the fourth quarter paints a rosy picture for the streaming giant and its shareholders.

Moreover, with the smashing success of the latest season of Stranger Things and Dahmer – Monster: The Jeffrey Dahmer Story, Netflix has yet again proved its mettle in the content creation realm. The trend of cord-cutting is continuously rising, and Netflix’s exceptional content strategy should help them generate even more engagement and watch time soon. However, despite an upswing following its third-quarter results, NFLX stock is down over 50% in value for the year. Nonetheless, it remains much more attractive at its promising all-time low valuation.

Walt Disney (DIS)

Source: chrisdorney / Shutterstock

Entertainment giant Walt Disney (NYSE:DIS) has been killing it of late with its smash hit streaming service called Disney+. With an incredible 164.2 million-member strong subscriber base, the service is having a blockbuster moment. A couple of years ago, in May, its subscriber base was at just 54.5 million. In its first year of operations, the platform’s sales shot up 85%, and recent results point to another incredible showing this year.

The move to raise subscription rates while offering a less expensive, ad-supported alternative is the right choice for Disney+. A 38% bump in its monthly fee brings it closer to competitors’ streaming services and gives consumers an option of having commercials, depending on what fits their lifestyle and budget. With the changes coming from Bob Iger’s belt-tightening efforts, the result could benefit Disney+ in the long run by shrinking its losses and strengthening its grip on popular streaming content.

Spotify (SPOT)

Source: Fabio Principe /

With the world of music streaming on the rise, Spotify (NYSE:SPOT) has greatly impacted the sector since its initial public offering four years ago. During this period, it has doubled its revenue and grown its active users at a breathtaking pace. In its recently released third-quarter results, the active user base jumped 20% from the prior-year period, despite the rampant economic uncertainty.

Apple recently increased prices for its Apple Music service, foreshadowing the intent of Spotify to follow suit. Additionally, Spotify has raised prices around the world 46 times in two years yet continues to grow in popularity. Therefore, the platform boasts an incredible long-term growth runway ahead and is poised to grow even in the most testing times. Moreover, SPOT stock has shed a ton of value and trades at a highly attractive price.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Muslim Farooque is a keen investor and an optimist at heart. A life-long gamer and tech enthusiast, he has a particular affinity for analyzing technology stocks. Muslim holds a bachelor’s of science degree in applied accounting from Oxford Brookes University.

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