Industry News

‘Stranger Things’ offers a glimmer of hope during Netflix’s slump

18 July, 2022

“Stranger Things” is the most popular TV show of the year. Next week, we’ll find out if that’s enough to save Hollywood’s summer.

Netflix Inc. will report results for its most recent fiscal quarter on Tuesday, and every one of its competitors is hoping for good news. Stocks across the industry have slumped ever since Netflix reported it lost customers in the first three months of the year.

While the entire market is down, Netflix’s struggles have made Wall Street particularly anxious about the entertainment sector. Shares in Walt Disney Co., Paramount Global, Warner Bros. Discovery and Netflix have all declined more than 25% since mid-April.

Visit Bloomberg to read this article.

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