The major streamers had a rough ride in 2022, with their stocks falling anywhere from 29% (Comcast Corporation) to 62% (Warner Bros. Discovery) in the past year. But 2023 will offer a fresh opportunity to turn those stock declines around — if they can adapt to the new rules for streaming success.
Last year’s battering on Wall Street was spurred by “too much competition all at once, accompanied by a recession and fears of persistent inflation,” Wedbush Securities analyst Michael Pachter told TheWrap.