Media Ups and Downs, While An OTT Goliath Soars


The Dow Jones Industrial Average fell 91.74 points to 25,706.68 in Wednesday’s trading. Nasdaq was off 2.79, to 7,642.70. Broadcast media issues saw climbs and dips, while Netflix shares enjoyed a sharp rebound and are back to where they were before October 4.

At the Closing Bell, Netflix was ahead by 5.3% from Tuesday, finishing at $364.70. Volume was 32.5 million shares; average volume was 11.1 million.

The reason? A charming Q3 compared to a disappointing Q2 report, as the OTT giant enjoyed the addition of nearly 7 million new subscribers in the third quarter.

For radio’s biggest names, small gains were seen, with Beasley Broadcast Group up 19 cents to $6.61, and Entercom rising 9 cents, to $7.16.

Emmis dipped by 10 cents, to $4.50, as Townsquare Media neared the all-important $8 mark again with a 17-cent gain to $7.94.