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.
8. Comcast Corporation (NASDAQ:CMCSA)
Number of Billionaire Investors: 14
Number of Hedge Fund Holders: 80
Comcast Corporation (NASDAQ:CMCSA) is a global media, entertainment, and communications company. The company offers broadband, wireless, and video through its Xfinity, Comcast Business, and Sky brands. Comcast Corporation (NASDAQ:CMCSA) produces, distributes, and streams entertainment, sports, and news through brands like NBC, Telemundo, Universal, Peacock, and Sky. Through its Universal Destinations & Experiences business, the company brings incredible theme parks and attractions to life around the globe. CMCSA ranks among the best entertainment stocks to invest in.
On February 10, Argus analyst Joseph Bonner reduced the firm’s price target for Comcast Corporation (NASDAQ:CMCSA) from $50 to $43 while maintaining a ‘Buy’ rating. Bonner noted that the weak macroeconomic environment and higher interest rates have caused a drop in residential moves, which are crucial for adding new customers to the company’s core cable broadband business. The analyst also pointed out that competition is increasing as telecom companies expand broadband networks into Comcast Corporation’s (NASDAQ:CMCSA) service areas. Despite these challenges, Comcast Corporation (NASDAQ:CMCSA) is addressing them by segmenting its market strategy to attract both premium and budget customers and enhancing its technology. Argus also noted that the company’s wireless business is growing, which is an important part of its service bundle.
7. Cinemark Holdings, Inc. (NYSE:CNK)
Number of Billionaire Investors: 15
Number of Hedge Fund Holders: 50
Cinemark Holdings, Inc. (NYSE:CNK) is an American theatrical exhibition and out-of-home entertainment company. With approximately 500 theaters in 42 states in the US and 13 South and Central American countries, it operates one of the world’s largest movie theater chains. According to billionaires, Cinemark Holdings, Inc. (NYSE:CNK) is one of the best entertainment stocks to buy.
On March 6, Benchmark analysts reiterated a ‘Buy’ rating for Cinemark Holdings, Inc. (NYSE:CNK) with a price target of $35. The firm’s analysis indicated that the company can achieve pre-pandemic box office performance without fully returning to 2019 attendance levels because of a 20% rise in average ticket prices since 2019. According to Benchmark, this allows Cinemark Holdings, Inc. (NYSE:CNK) to match pre-pandemic admission revenues with only 79% of its 2019 attendance. Additionally, concession sales per patron (CPP) have surged by 48%. With a projected CPP of $7.89 for 2024, concession sales could exceed pre-pandemic levels by 20% even at 79% of the attendance levels from 2019. Benchmark analysts highlighted the importance of this shift towards higher-margin concession sales for Cinemark Holdings, Inc. (NYSE:CNK) as it presents a considerable opportunity for margin expansion. The firm’s positive outlook is also based on the assumption that the improving quality and volume of wide-release films will drive attendance recovery.
6. Live Nation Entertainment, Inc. (NYSE:LYV)
Number of Billionaire Investors: 15
Number of Hedge Fund Holders: 60
Live Nation Entertainment, Inc. (NYSE:LYV) is an American multinational entertainment company. The company specializes in live entertainment, organizing and promoting live music events, artist management, ticketing services, and sponsorships. Live Nation Entertainment, Inc. (NYSE:LYV) is one of the best entertainment stocks to invest in.
On February 21, Evercore ISI analysts raised the firm’s price target on Live Nation Entertainment, Inc. (NYSE:LYV) from $160 to $180 and maintained an ‘Outperform’ rating. Analysts noted that despite concerns about potential softening in consumer spending, the company has not observed any reduction in concert demand across all types of events, including large stadium shows, smaller club performances, and festivals, which are selling at record levels across diverse genres and regions. While Q1 2025 is expected to face challenges from foreign exchange pressures, analysts expect to see accelerated growth in Q2 and Q3. Investments in Venue Nation are also expected to help Live Nation Entertainment, Inc. (NYSE:LYV) to sustain growth momentum into 2026 and beyond.
5. Warner Bros. Discovery, Inc. (NASDAQ:WBD)
Number of Billionaire Investors: 15
Number of Hedge Fund Holders: 64
Warner Bros. Discovery, Inc. (NASDAQ:WBD) is a leading global mass media and entertainment conglomerate. The company offers a complete portfolio of branded content across tv, film, streaming, and gaming in over 220 countries and territories around the world. Some of the company’s most iconic brands and products include Warner Bros. film and television studios, Discovery Channel, Max, discovery+, CNN, TNT, Eurosport, HBO, TLC, Animal Planet, Science Channel, New Line Cinema, and Cartoon Network. Warner Bros. Discovery, Inc. (NASDAQ:WBD) ranks among the best entertainment stocks to buy according to billionaires.
The company is working to expand and strengthen its global streaming business while also improving profitability in its Direct-to-Consumer (DTC) segment. The launch of Max as a global streaming service in 2024 greatly strengthened Warner Bros. Discovery, Inc.’s (NASDAQ:WBD) content monetization capabilities. The DTC segment saw a 20% year-over-year growth in subscribers and contributed substantial profits. In just two years, the company improved its DTC Adjusted EBITDA performance by almost $3 billion. In 2024, Warner Bros. Discovery, Inc. (NASDAQ:WBD) launched Max in over 70 countries and added 19 million DTC subscribers. The company generated nearly $700 million in DTC Adjusted EBITDA. Warner Bros. Discovery, Inc. (NASDAQ:WBD) aims to reach $1.3 billion in DTC Adjusted EBITDA by 2025. Strong DTC subscriber growth is expected to continue throughout 2025 and the company plans to reach at least 150 million global subscribers by the end of 2026. Warner Bros. Discovery, Inc. (NASDAQ:WBD) has secured agreements to expand Max’s reach, including a deal with Sky in the UK and Ireland that will bring Max to about 10 million of their current subscribers by Q2 2026. The company will also launch Max in Germany and Italy in Q1 2026.
4. Spotify Technology S.A. (NYSE:SPOT)
Number of Billionaire Investors: 17
Number of Hedge Fund Holders: 101
Spotify Technology S.A. (NYSE:SPOT) is a leading provider of music and audio streaming subscription services. It allows users to listen to tracks, podcast titles, and audiobooks. The company has more than 675 million users, including over 250 million subscribers, in more than 180 markets around the world. Spotify Technology S.A. (NYSE:SPOT) ranks among the best entertainment stocks to invest in.
The company is strategically focused on expanding its user base and also improving monetization and profitability. Spotify Technology S.A. (NYSE:SPOT) is actively launching new features for creators and consumers. In Q4 2024, the company introduced Custom playlist covers in Beta to allow users to create their own cover art for the over 8 billion user-generated playlists on Spotify. Spotify Technology S.A. (NYSE:SPOT) also introduced a new video podcast offering for Premium Subscribers in the US, United Kingdom, Australia, and Canada. For creators, Spotify Technology S.A. (NYSE:SPOT) launched the Spotify Partner Program, a new monetization program that allows creators to earn more from their audio and video content.
The company’s strategic focus seems to be paying off as it closed 2024 with a record-breaking Q4 performance. Spotify Technology S.A. (NYSE:SPOT) reported that Monthly Active Users (MAUs) grew 12% year-over-year to reach 675 million, with net additions of 35 million, the largest Q4 in the company’s history. Premium subscribers also increased 11% year-over-year. Notably, Spotify Technology S.A. (NYSE:SPOT) reported that ad-supported revenue increased by 7%, driven by growth in impressions sold.
3. Flutter Entertainment plc (NYSE:FLUT)
Number of Billionaire Investors: 19
Number of Hedge Fund Holders: 98
Flutter Entertainment plc (NYSE:FLUT) is one of the world’s largest sports entertainment and gambling companies. It owns and operates a diverse portfolio of online sports betting and iGaming brands including FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, tombola, Betfair, MaxBet, Junglee Games, and Adjarabet. Flutter Entertainment plc (NYSE:FLUT) ranks among the best entertainment stocks to invest in according to billionaires.
On March 5, BTIG analysts reiterated a ‘Buy’ rating for Flutter Entertainment plc (NYSE:FLUT) with a price target of $323 after the company’s Q4 2024 results came in line with expectations. The guidance for revenue and EBITDA outside the US aligned with prior estimates, considering new US state launches and acquisitions of NSX and Snai for the company’s international operations. Analysts estimate that 2025 EBITDA for non-US operations could potentially exceed current guidance of $1.75 to $1.95 billion by $50 million after considering the impact of acquisitions in Q2 2025. Despite a conservative outlook for US sportsbook handle growth, BTIG expects over 30% year-over-year growth in FanDuel sportsbook Net Gaming Revenue and strong iGaming trends.
2. The Walt Disney Company (NYSE:DIS)
Number of Billionaire Investors: 19
Number of Hedge Fund Holders: 108
The Walt Disney Company (NYSE:DIS), or simply Disney, is an American multinational mass media and entertainment conglomerate that ranks among the best entertainment stocks to buy. The company operates through 3 core business segments that include Disney Entertainment, ESPN, and Disney Experiences. Disney Entertainment includes a portfolio of entertainment media networks, film studios, and streaming platforms like Disney+. ESPN focuses on sports content and includes ESPN networks, ESPN+, and international sports channels. Through Disney Experiences, The Walt Disney Company (NYSE:DIS) brings iconic stories and characters to life through theme parks, resorts, cruise, vacation experiences, and consumer products such as toys, apparel, books, and video games.
On March 12, JPMorgan reiterated its ‘Overweight’ rating for The Walt Disney Company (NYSE:DIS) with a price target of $130. The firm noted the Parks & Experiences division as a key driver of the company’s revenue and operating income. According to JPMorgan, this segment will remain a major contributor to the company’s financials, even as the Direct-to-Consumer (DTC) sector expands. The firm highlighted the unique role of Disney’s parks in creating tangible interactions with intellectual properties through rides, characters, and merchandise. Analysts expressed optimism about long-term earnings from this segment, citing investments in new attractions, cruise expansions, and refined pricing strategies. JPMorgan’s report also showed that The Walt Disney Company (NYSE:DIS) has considerable control over its success despite macroeconomic challenges and outlined plans for domestic and international growth, with a special focus on the cruise business through 2030.
1. Netflix, Inc. (NASDAQ:NFLX)
Number of Billionaire Investors: 25
Number of Hedge Fund Holders: 144
Netflix, Inc. (NASDAQ:NFLX) is an American media and entertainment company with more than 300 million paid memberships in over 190 countries around the world. The company is best known for its streaming services. It offers a wide variety of TV shows, movies, documentaries, original content, and games across a wide variety of genres and languages. Netflix, Inc. (NASDAQ:NFLX) ranks among the best entertainment stocks to buy.
On March 17, MoffettNathanson upgraded the rating on Netflix, Inc. (NASDAQ:NFLX) from ‘Neutral’ to ‘Buy’ and raised its price target by $250 to $1,100. The firm cited the company’s ability to better monetize user engagement and unlock new revenue streams. MoffettNathanson highlighted that Netflix, Inc. (NASDAQ:NFLX) has won the streaming wars and there is room for further growth in the future. The company has a large subscriber base, which allows it to spend more on content to drive engagement and attract even more subscribers. MoffettNathanson analysts pointed to the company’s ad-supported tier as a key driver of future growth. This tier is a lower-cost option that expands Netflix, Inc.’s (NASDAQ:NFLX) total addressable market while generating dual revenue streams through subscription and advertising. MoffettNathanson expects Netflix, Inc. (NASDAQ:NFLX) to generate more than $6 billion in ad revenue by 2027 and nearly $10 billion by 2030. Additionally, MoffettNathanson expects the company’s operating margins to expand by at least 200 basis points annually, potentially reaching 40% by 2030. This combination of subscription growth, advertising revenue, and margin expansion supports the firm’s confidence in Netflix, Inc.’s (NASDAQ:NFLX) long-term profitability.
Overall, NFLX ranks first among the 10 best entertainment stocks to buy according to billionaires. While we acknowledge the potential of entertainment companies, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NFLX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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