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Also, on November 16, Louis Alfieri, the chief creative officer of Raven (NASDAQ:RAVN) Sun Creative, said that he’s seeking unspecified damages from Walt Disney Parks and Resorts for allegedly infringing on his patent for a “tower ride.” DIS stock has lost 16.5% in price over the past month to close the last trading session at $142.15. Also, in terms of forward EV/S, its 3.82x is 54% higher than the 2.48x industry average. And its 3.09x forward P/S is 86.5% higher than the 1.66x industry average. So, we think it could be wise to wait for a better entry point in the stock.
Nevertheless, the entertainment industry is expected to grow significantly in the coming months, thanks to the increased demand for digital services. Furthermore, as the economy gradually recovers, live entertainment is expected to pick up. According to a PwC report, the $2 trillion-plus global entertainment and media industry is likely to grow 6.7% in 2022. So, we think it could be wise to bet on quality entertainment stocks News Corporation (NWSA) and World Wrestling Entertainment, Inc. (WWE) instead.
