Media stocks lost over $500 billion in value this year — here’s what happens next
Rising costs, debt-ridden balance sheets, and a renewed focus on profitability weighed on the embattled sector as investors quickly punished companies struggling to turn a profit. Netflix (NFLX) shares are down about 50% on the year, while companies like Warner Bros. Discovery (WBD) and Spotify (SPOT) have sunk more than 60% with Roku (ROKU) plummeting…