Why Nexstar Media Group (NXST) Is the Best News and Digital Media Stock to Buy

Insider Monkey2024-12-19

We recently published a list of the 12 Best News and Digital Media Stocks To Buy. In this article, we are going to look at where Nexstar Media Group, Inc. (NASDAQ:NXST) stands against other news and ...

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In this article, we are going to look at where Nexstar Media Group, Inc. (NASDAQ:NXST) stands against other news and ...</p>\n\n<a href=\"https://finance.yahoo.com/news/why-nexstar-media-group-nxst-210044163.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B64QTZ34.USD","symbol_name":"NEUBERGER BERMAN US SMALL CAP \"A\" (USD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/why-nexstar-media-group-nxst-210044163.html","article_id":"2492576071","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Z.OF5aRds_YjSLEmtITRqA--~B/aD04MTY7dz0xNDU2O2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/insidermonkey.com/15dc1881b943b46b3181633158f10f8c"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492576071","pubTimestamp":1734555644,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"We recently published a list of the 12 Best News and Digital Media Stocks To Buy. In this article, we are going to look at where Nexstar Media Group, Inc. stands against other news and digital media stocks to buy now.Digital experiences comprise a significant part of consumers’ lives in today’s digital age. According to Deloitte, consumers spend an average of eight hours engaging in online activities every day, which makes up about half of their waking hours. These trends are more prominent among Gen Z and millennials, who spend around nine hours on average on online activities every day. In contrast, Gen X and boomers spend around seven and six hours on average daily, respectively.According to a 2023 Pew Research Center survey, nearly 50% of all US adults claimed that they sometimes get news from social media. Although those who use social media to get news like various things about it, such as speed, convenience, and preciseness, some consumers express concerns about the practice. Th","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00B64QTZ34.USD":"NEUBERGER BERMAN US SMALL CAP \"A\" (USD) ACC","SQQQ":"纳指三倍做空ETF","PSQ":"纳指反向ETF","NXST":"Nexstar Broadcasting Group","BK4125":"广播","QID":"纳指两倍做空ETF","USJW.SI":"ALPHAB 3xLongSG261006","QLD":"纳指两倍做多ETF",".IXIC":"NASDAQ Composite","TQQQ":"纳指三倍做多ETF","TSYW.SI":"TESLA 3xLongSG261006","USAW.SI":"AMZN 3xLongSG261006","NVIW.SI":"NVDA 3xLongSG261006"},"translate_title":"为什么Nexstar Media Group(NXST)是最值得购买的新闻和数字媒体股票","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NXST":1,".IXIC":0.9,"MNQmain":0.6,"NQmain":0.6,"NVIW.SI":0.6,"PSQ":0.6,"QID":0.6,"QLD":0.6,"SQQQ":0.6,"TQQQ":0.6,"TSYW.SI":0.6,"USAW.SI":0.6,"USJW.SI":0.6},"content_text":"We recently published a list of the 12 Best News and Digital Media Stocks To Buy. In this article, we are going to look at where Nexstar Media Group, Inc. (NASDAQ:NXST) stands against other news and digital media stocks to buy now.\nAmerican Consumers and Digital Media\nDigital experiences comprise a significant part of consumers’ lives in today’s digital age. According to Deloitte, consumers spend an average of eight hours engaging in online activities every day, which makes up about half of their waking hours. These trends are more prominent among Gen Z and millennials, who spend around nine hours on average on online activities every day. In contrast, Gen X and boomers spend around seven and six hours on average daily, respectively.\nAround 7 in 10 respondents claim that they go online daily to use social media, carry out general web browsing, or communicate with their friends and family. 74% of Gen Z and millennials check their social media several times every day, with 20% of Gen Z checking their feeds at least every hour. In contrast, 57% of Gen X and 39% of boomers check their social media multiple times a day.\n61% of consumers surveyed said that they interact with digital media daily by consuming entertainment (watching movies, sports, or television) on a streaming service. Similarly, around 48% said they listen to a podcast or music daily.\nA study by Deloitte shows that US households spent around $760 on average on acquiring connected devices in 2024, down from $800 in 2023. Consumer technology spending fell between 2022 and 2023, primarily due to pandemic-driven supply chain disruptions, higher inflation, and slower economic growth.\nHowever, estimates show that this spending is expected to bounce back, experiencing a 1% growth in revenue in 2024 and an extra 4.4% growth in 2025. Deloitte’s 2024 Connected Consumer Survey corroborates this claim, as it shows that 28% of respondents have plans to increase their device spending in 2025, up from 9% in 2023. In contrast, around 23% of people are planning to reduce their device purchase spending, up from 7% in 2023. This trend is attributed to the ongoing financial pressures on US consumers.\nAre Americans Losing Interest in News?\nRecent Pew Research Center surveys show a falling number of US adults who follow the news closely. Consumers for several older types of news media, such as local television stations, public radio, and newspapers, are dwindling as well. However, audiences for a few particular media brands are increasing, including newer digital platforms such as podcasts and social media.\nAccording to a 2023 Pew Research Center survey, nearly 50% of all US adults claimed that they sometimes get news from social media. Although those who use social media to get news like various things about it, such as speed, convenience, and preciseness, some consumers express concerns about the practice. They claim news attained from social media isn’t always accurate, is seldom low in quality, and tends to be politically biased. Inaccuracy is increasingly becoming the most disliked aspect of social media news, going from 31% who said the same to 40% in the past five years.\nSimilarly, an Ernst & Young (EY) report on key entertainment and media trends for 2024 showed that consumer dissatisfaction with paying for unused television channels was leading to the rise of streaming services. Such services allowed households to personalize their content and reduce costs simultaneously.\nMedia companies are now facing the challenge of maintaining a profitable balance between traditional cable and linear broadcast networks and streaming platforms. Digital media companies are also employing artificial intelligence to regulate their operations, boosting incremental growth and productivity. However, risks regarding the implementation of GenAI persist. These include intellectual property protection, creative industries’ job security concerns, and privacy and accuracy challenges.\n\nOur Methodology\nTo compile our list, we consulted online sources and ETFs to select 15 top news and digital media stocks. We then chose the top 12 stocks that were the most popular among hedge funds. We sourced the hedge fund data from Insider Monkey’s database. The stocks are arranged in ascending order of the number of hedge funds that hold stakes in them.\nAt Insider Monkey, we are obsessed with the stocks that hedge funds pile into. 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 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).\nNexstar Media Group, Inc. (NASDAQ:NXST)\nNumber of Hedge Fund Holders: 27\nNexstar Media Group (NASDAQ:NXST) is a diversified media company that operates television networks, television broadcasting, and digital media assets in the US. It produces and disseminates national and local news, entertainment, and sports content through its television and digital platforms. Its operations are divided into Broadcast and The CW Network, LLC. Nexstar Media Group (NASDAQ:NXST) owns CW, the fifth major broadcast network in the US, and News Nation, its national news network.\nThe company attained its highest third-quarter total net revenue in its history in fiscal Q3 2024. It comprised all-time high Q3 distribution and advertising revenue, including revenue from record political advertising in the politically charged atmosphere of the quarter. The September quarter marked the company’s third consecutive reporting period of record total net revenue and the fourth consecutive reporting period of record distribution revenue. These trends highlight the increasing profitability of Nexstar Media Group (NASDAQ:NXST).\nThe company’s acquisition of The CW in fiscal Q4 of 2022 has proven profitable. It increased the total number of programming hours by more than 40%. The company’s station side is benefitting from the ownership as well. Nexstar Media Group (NASDAQ:NXST) recently announced five additional Nexstar stations and the acquisition of an independent Cleveland, Ohio, station that is set to become the market’s CW affiliate in September 2025 after the closing of the transaction.\nOverall, NXST ranks 11th on our list of the best news and digital media stocks. While we acknowledge the potential of NXST to grow, our conviction lies in the belief that 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 NXST but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.\nREAD NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.\nDisclosure: None. This article is originally published at Insider Monkey.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.0","shortVersion":"4.30.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2492576071"}