BUZZ-Streaming giant Netflix towers over media stocks in 2024, Paramount lags

For streaming pioneer Netflix NFLX.O, 2024 was another year atop the media industry with share price gains of around 85% - the biggest among major sector companies

The gains were fueled by subscriber growth after Netflix cracked down on password sharing, as well as its live events expansion and robust content slate

Among peers, Fox Corp FOX.O rose about 65% and Walt Disney Co DIS.N around 23%

While Fox benefited from growth in its ad-supported streamer Tubi, gains at Disney were fueled by signs its push for streaming profitability under CEO Bob Iger was paying off

Disney also made a strong comeback at the box office, with the coming-of-age film "Inside Out 2", produced by Pixar, grossing more than $1.5 billion

Paramount Global PARA.O, whose deal with media production company Skydance dominated headlines this year, was the weakest performer this year among peers with a decline of around 30%

Universal Studios- and NBC-owner Comcast CMCSA.O and Warner Bros Discovery WBD.O were also among the laggards with a drop of 14.7% and 7.6%, respectively, as media stocks reliant on cable TV fell out of favor with investors

(Reporting by Aditya Soni in Bengaluru)

((Aditya.Soni@thomsonreuters.com; +91 80 6210 0555;))