The entertainment and media industry has been under immense pressure lately due to several macroeconomic headwinds. Over the past year, spending for entertainment and recreational activities declined as persistently high inflation discouraged discretionary spending. Also, the industry is suffering from intense competition for streaming service subscribers.
Despite near-term macro uncertainty, the entertainment industry is poised to witness robust growth and expansion in the long run, driven by high demand for online entertainment. Hence, investors could hold AMC Networks Inc. (AMCX) and wait for a better entry point in this stock. Conversely, avoiding struggling The Walt Disney Company (DIS) could be wise now.
