How the Market Crash Is Forcing Hollywood Giants to Reassess Digital Strategies [Variety]

How the Market Crash Is Forcing Hollywood Giants to Reassess Digital Strategies [Variety]

(ABOVE) Netflix Canadian HQ

 

By Cynthia Littleton and Todd Spangler

May 24, 2022 | By the end of a brutal trading day on May 18, Wall Street had delivered a wallop to Hollywood that will change the course of business as surely as the COVID pandemic accelerated the pace of transformation during the past 26 months.

Last week’s market crash that saw the Dow Jones Industrial Average plunge 1,164.52 points, or 3.57%, was not just a one-day blow but the culmination of a months-long correction for Big Media stocks. Disney, Netflix, Warner Bros. Discovery and Comcast have seen tens of billions of dollars in market capitalization wiped out over the first five months of the year, as have tech titans like Amazon and Apple. Investors have spoken.

Read more on Variety.

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