Despite a lackluster rally on Friday, Wall Street had a grim week, causing significant drops in entertainment stocks. Several major media companies saw their shares plummet, with AOL Time Warner and Viacom each falling 10% to close at $37.46 and $42.44 respectively. News Corp. also took a hit, dropping 9% to $32.55, while Walt Disney ended the week down 4.3% at $25.49, after hitting a new 52-week low of $24.42 on Thursday.
Viacom, despite its struggles, is still considered a favorite by some analysts due to its heavy reliance on advertising. The expectation is that if an economic upturn occurs, Viacom's stock will bounce back quickly. However, predictions for such an upturn, now set for the second quarter of next year, have often been overly optimistic and repeatedly revised.
Economic data released throughout the week confirmed that consumer confidence remains low and the economy is sluggish, which continues to impact the advertising market and investor sentiment. This has led to a general disenchantment with ad-dependent media conglomerates.
In the absence of any immediate relief, these conglomerates are hoping for a strong winter box office to boost revenue and offset the slowdown in their broadcast, cable, and publishing divisions. Promising films include "Harry Potter and the Sorcerer’s Stone" (Warner Bros.), "Monsters, Inc." (Pixar/Disney), "The Fellowship of the Ring" (New Line), "Gangs of New York" (Miramax), "Vanilla Sky" (Paramount), "Training Day" (Warner Bros.), "Adaptation" (Sony), and "The Royal Tenenbaums" (Disney).
Interestingly, some smaller media stocks have shown unexpected resilience. AMC, the only publicly traded theater chain, has seen its stock rise nearly 200% this year. Similarly, video rental giant Blockbuster is up 155%, even as video-on-demand poses a threat. Hollywood Video and Movie Gallery, Blockbuster's main rivals, have seen even more dramatic gains, rising over 1,000% and 700% respectively.
Other notable performers include TV station group Granite Broadcasting, up more than 100% since January, and Activision, a video and computer game publisher, which has jumped 150%. Smaller but still impressive gains were seen from 3DO (up over 80%), Entertainment Properties Trust (up 55%), Playboy Enterprises (up 54%), and Rank (up nearly 50%).
However, Laura Martin, an entertainment industry analyst with CS First Boston, cautions against interpreting these gains as a sign of future performance. She notes that many of these stocks were unusually low at the beginning of the year, with some companies on the brink of bankruptcy.
What are the Harry Potter Movies about and Where to Watch
The Harry Potter movies chronicle the magical adventures of a young wizard named Harry Potter as he attends Hogwarts School of Witchcraft and Wizardry, confronts dark wizards, and discovers his own fate. To enjoy these enchanting films, where to watch harry potter can include platforms like HBO Max, Amazon Prime, or by renting from digital stores, though availability may vary by region.
Why Choose SafeShell as Your Netflix VPN?
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A Step-by-Step Guide to Watch Harry Potter with SafeShell VPN
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With the VPN active, open the Netflix app or website and sign in. The platform will now display the Harry Potter movies available in the region you selected. If content doesn’t appear immediately, clear your browser or app cache and reload. For optimal viewing, ensure the SafeShell Netflix VPN connection remains stable throughout playback. This method lets you enjoy the magical series securely, with no buffering or geographical limitations.
