Monday, November 9, 2015
Report: Media Stocks Are In For A Rude Awakening
However, according to one widely followed analyst, those concerns should not be put on the back burner as media stocks are in for a rude awakening.
"There is a seismic change in consumer behavior that is affecting the entire media sector," said BTIG's Rich Greenfield on CNBC's "Fast Money" last week.
"Consumers are not dumb. They're making decisions and more of them are cutting or shaving the cord, and it's affecting every one of these companies in the sector," he said.
Many of the cable companies have explored streaming options to combat fleeting young viewership — but Greenfield says the problem exists in content.
"The whole industry needs to reorient itself — invest heavily in great, must-watch programming, and build the technology to go direct to consumer and support customer care," said Greenfield.
Posted 5:20:00 AM