Big media and entertainment stocks rebounded in the second quarter — along with the broader market as investors overall seemed to shrug off concerns about the novel coronavirus pandemic and the recession it has been expected to cause — but remain in negative territory for the year.
Sector investors had already been concerned about cord-cutting, the continued rise of streaming giants like Netflix, and new services, such as TikTok, grabbing younger audiences' attention.
Then the pandemic hit in March, dragging down Hollywood stocks amid shuttered cinemas, the end of live sports, interrupted film and TV productions, and worries about the fallout from the recession caused by the virus.
Read more on hollywoodreporter.com
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