The entertainment industry is a global and fast-growing sector that encompasses film, music, social media, games, and live events. According to a report by The Business Research Company, the entertainment and media market was valued at $2.67 trillion in 2024. The market is expected to grow at a compound annual growth rate (CAGR) of 7.4% during 2025-2029 to reach a value of more than $3.82 trillion by the end of the forecast period. In 2024, the largest region in the entertainment and media market was North America.
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The industry is rapidly evolving thanks to technological advancements, changing consumer preferences, and global connectivity. The internet and mobile devices continue to make entertainment more accessible around the world. These factors ensure continued growth within the industry.
Entertainment companies are innovating their business models to stay competitive, especially as streaming services become more popular. Advertising is also becoming a key strategy for entertainment and media companies.
New technologies like AI, VR, and AR continue to revolutionize content creation and consumption. Moreover, the gaming sector is expected to grow in the coming years and this should support further growth in the entertainment industry. These trends offer significant growth potential, especially for entertainment companies involved in gaming and streaming.
With this background in mind, let’s take a look at the 10 best entertainment stocks to buy according to billionaires.
Stagehands setting up the equipment for a live entertainment event.
Methodology
To compile our list of the 10 best entertainment stocks to buy according to billionaires, we looked for the biggest entertainment companies. We also reviewed our own rankings, financial media reports, ETFs, and stock screeners to compile a list of the best entertainment stocks. Next, we focused on the top 10 entertainment stocks most favored by billionaires. Data for the number of billionaire investors for each stock was taken from Insider Monkey’s Q4 2024 database. Finally, the 10 best entertainment stocks to buy were ranked in ascending order based on the number of billionaires holding stakes in them as of Q4 2024.
Additionally, we mentioned the hedge fund sentiment surrounding each stock, which was taken from Insider Monkey’s Q4 2024 database of more than 1,000 elite hedge funds.
Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10 Best Entertainment Stocks to Buy According to Billionaires
10. Paramount Global (NASDAQ:PARA)
Number of Billionaire Investors: 13
Number of Hedge Fund Holders: 54
Paramount Global (NASDAQ:PARA) is an American multinational mass media and entertainment company with strong capabilities in production, distribution, streaming, advertising, global markets, and consumer products. The company creates content and experiences and offers streaming services and digital video products for audiences worldwide through its portfolio of brands including CBS, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount+, and Pluto TV. Paramount Global (NASDAQ:PARA) is one of the best entertainment stocks to buy according to billionaires.
On February 27, Benchmark analysts maintained a ‘Buy’ rating for Paramount Global (NASDAQ:PARA) with a price target of $19.00, despite a disappointing Q4 2024 performance. The analysts noted that the company’s direct-to-consumer (DTC) segment showed improvement in subscriber growth and profitability, but challenges persisted in its core TV Media segment even with a boost from political advertising revenues. Analysts also highlighted the importance of Paramount Global’s (NASDAQ:PARA) upcoming merger deal with Skydance, which could improve valuation. The transaction, which could close by this summer, can bring additional synergies and a capital infusion to strengthen the company’s balance sheet. Additionally, the sale of non-core assets by Paramount Global (NASDAQ:PARA) was mentioned as another strategy to improve the company’s financial health.
9. Las Vegas Sands Corp. (NYSE:LVS)
Number of Billionaire Investors: 14
Number of Hedge Fund Holders: 49
Las Vegas Sands Corp. (NYSE:LVS) is an American entertainment company that develops and operates integrated resorts. The company’s portfolio of properties includes Marina Bay Sands in Singapore and The Venetian Macao, The Londoner Macao, The Parisian Macao, The Plaza Macao, and Sands Macao in Macao SAR, China. The resorts encompass luxury hotels, state-of-the-art meeting facilities, and a variety of entertainment attractions. Las Vegas Sands Corp. (NYSE:LVS) ranks among the best entertainment stocks to buy according to billionaires.
The company sees significant opportunities in the growing Macao market. In Q4 2024, Las Vegas Sands Corp. (NYSE:LVS) reported that gaming revenue in Macao grew 6% year-over-year. Gross gaming revenue in Macao is expected to surpass $30 billion in 2025 and continue to grow. Management believes that the Chinese economy will grow and Macao’s economy will grow with it. Las Vegas Sands Corp. (NYSE:LVS) is looking to strategically leverage its high-quality assets to attract profitable customers. In late September 2024, Las Vegas Sands Corp. (NYSE:LVS) opened the Londoner Grand Casino. The company operated 315 Londoner Grand Suites in Q4 2024 and has plans to introduce more Londoner Suites during the next 2 quarters.
