ITV, AFRN, STVG: Do these stocks deserve a spot on your watchlist?

Follow us on Google News:
 ITV, AFRN, STVG: Do these stocks deserve a spot on your watchlist?

Highlights

  • Streaming services in the UK have witnessed a decline in subscriptions, as per data from Nationwide Building Society.
  • People have become more selective on their spending amid the cost-of-living crisis.

Millions of Britons are paying significantly more than last year for food, energy, and other essentials. The squeeze on household budgets has resulted from the sky-high inflation, which reached its 40-year record in April. As a result, people are cutting their expenses wherever they can.

Among the services that UK households have reduced spending on are streaming services, according to data gathered on debit and credit card subscriptions by Nationwide Building Society (LON: NBS). The cost-of-living crisis has forced people to cancel subscriptions for several streaming services, keeping just a few favourites.

The data is based on the number of transactions that Nationwide's members made between 1 April and 30 April. The overall figures showed there were fewer transactions in April in comparison with March. However, the amount did not come down, hinting at the impact of rising prices, Nationwide said.

Streaming services in the UK witnessed a major decline in subscriptions in April.

© 2022 Kalkine Media®

According to a recent report by media consultancy firm Kantar, as many as 1.5 million subscriptions for streaming services were cancelled by Britons in the first quarter of 2022. One out of three people did so to save money, the report claimed. This came after the streaming platforms witnessed a boom in subscriptions during the lockdown as people were forced to stay at home.

Let us take a look at some FTSE-listed stocks related to streaming services and how they have been faring amid the rising inflation.

ITV Plc (LON: ITV)

ITV is a British media company that creates, owns, and distributes content on various platforms worldwide. It has operations in both broadcast & online segments. The company is listed on the FTSE 100 index. For the three months to 31 March 2022, it posted an 18% rise in its total external revenue, including a 24% increase in digital revenues.

Shares of ITV were trading 3.92% lower at GBX 71.44 as of 9:41 am GMT+1 on 24 May 2022, with a market capitalisation of £2,993.29 million. The shares have provided negative returns of -44.52% in the last one year.

Aferian Plc (LON: AFRN)

Aferian is a global firm that offers media and technology solutions to its clients. It recently launched 24iQ, a service that provides AI-based analytics and content recommendations to streaming providers.

The company has a market cap of £118.36 million, and its share price has declined by 1.56% over the past one year. Aferian shares traded at GBX 140.00 on 24 May 2022 at around 11:39 am GMT+1.

STV Group PLC (LON: STVG)

STV Group is a Scotland-based media company that produces and broadcasts a range of programs through satellite as well as online. The company has a market cap of £142.50 million, and its one-year returns stand in the negative territory at 10.24%. The year-to-date returns currently are -14.09%. STV Group's shares were trading flat at GBX 305.00 on 24 May 2022 at 11:40 am GMT+1.

Note: The above content constitutes a very preliminary observation or view based on market trends and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Limited, Company No. 12643132 (Kalkine Media, we or us) and is available for personal and non-commercial use only. Kalkine Media is an appointed representative of Kalkine Limited, who is authorized and regulated by the FCA (FRN: 579414). The non-personalised advice given by Kalkine Media through its Content does not in any way endorse or recommend individuals, investment products or services suitable for your personal financial situation. You should discuss your portfolios and the risk tolerance level appropriate for your personal financial situation, with a qualified financial planner and/or adviser. No liability is accepted by Kalkine Media or Kalkine Limited and/or any of its employees/officers, for any investment loss, or any other loss or detriment experienced by you for any investment decision, whether consequent to, or in any way related to this Content, the provision of which is a regulated activity. Kalkine Media does not intend to exclude any liability which is not permitted to be excluded under applicable law or regulation. Some of the Content on this website may be sponsored/non-sponsored, as applicable. However, on the date of publication of any such Content, none of the employees and/or associates of Kalkine Media hold positions in any of the stocks covered by Kalkine Media through its Content. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music/video that may be used in the Content are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music or video used in the Content unless stated otherwise. The images/music/video that may be used in the Content are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Featured Articles