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7 top media stocks to buy in 2024

Ready to invest in the broadcasting industry? Learn how to invest in media stocks in just a few steps.

The best media stocks depend on your portfolio and investment goals — while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.

The top broadcasting stocks included on this page all trade on the S&P 500, have an analyst recommendation of "Buy" or better and are sorted by year-to-date performance.

  1. Paramount Global (VIAC)
  2. Sirius XM Holding (SIRI)
  3. Sinclair Broadcast Group (SBGI)
  4. Nexstar Broadcasting Group (NXST)
  5. EWScripps Co Class A (SSP)
  6. Saga Communications (SGA)
  7. Cumulus Media Inc Class A (CMLS)

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How to invest in media stocks

  1. Choose an online stock trading platform. Choose from our Top Picks above, use our comparison table below or jump straight to the best stock trading apps of 2024.
  2. Sign up for an account. Provide your personal information and sign up.
  3. Set up a funding method to pay for the transaction. Deposit funds into your account by linking your banking information.
  4. Choose the stocks you want to buy. Search for the stock by name or ticker symbol like VIAC or SIRI.
  5. Place your order. Buy the stock. It's that simple.

Take a deeper dive into media stocks

If you're interested in investing in the broadcasting industry, take a closer look at what companies in this industry do and how the stocks have historically performed. Keep in mind that positive past performance doesn't guarantee that a stock will continue to rise in the future.

1. Paramount Global (VIAC)

ViacomCBS Inc. operates as a media and entertainment company worldwide. The company operates through TV Entertainment, Cable Networks, and Filmed Entertainment segments.

Paramount Global is listed on the NASDAQ and has a trailing 12-month revenue of around USD28.6 billion.

  • Market capitalization: $19,258,916,864
  • P/E ratio: 4.2191
  • PEG ratio: 0.7219

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2. Sirius XM Holding (SIRI)

Sirius XM Holdings Inc. operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform.

Sirius XM Holding stock opened the day at $23.59 after a previous close of $23.65. The latest price was $22.66 (25-minute delay). Sirius XM Holding is listed on the NASDAQ, has a trailing 12-month revenue of around USD$8.9 billion and employs 5,680 staff.

  • Market capitalization: $9,854,996,480
  • P/E ratio: 7.7561
  • PEG ratio: 0.6828

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3. Sinclair Broadcast Group (SBGI)

Sinclair, Inc. , a media company, provides content on local television stations and digital platforms in the United States. It operates through two segments, Local Media and Tennis.

Sinclair Broadcast Group stock opened the day at $15.17 after a previous close of $15.30. The latest price was $15.20 (25-minute delay). Sinclair Broadcast Group is listed on the NASDAQ, has a trailing 12-month revenue of around USD$3.2 billion and employs 7,300 staff.

  • Market capitalization: $1,015,343,232
  • PEG ratio: 0.8868

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4. Nexstar Broadcasting Group (NXST)

Nexstar Media Group, Inc. operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.

Nexstar Broadcasting Group stock opened the day at $164.89 after a previous close of $165.35. The latest price was $164.82 (25-minute delay). Nexstar Broadcasting Group is listed on the NASDAQ, has a trailing 12-month revenue of around USD$5 billion and employs 11,877 staff.

  • Market capitalization: $5,371,329,024
  • P/E ratio: 13.0608
  • PEG ratio: 0.5705

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5. EWScripps Co Class A (SSP)

The E. W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments.

EWScripps Co Class A stock opened the day at $2.27 after a previous close of $2.20. The latest price was $2.20 (25-minute delay). EWScripps Co Class A is listed on the NASDAQ, has a trailing 12-month revenue of around USD$2.3 billion and employs 5,200 staff.

  • Market capitalization: $202,828,560
  • PEG ratio: 12.81

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6. Saga Communications (SGA)

Saga Communications, Inc. , a media company, engages in acquiring, developing, and operating broadcast properties in the United States. The company's radio stations employ various programming formats, including classic hits, country, classic country, hot/soft/urban adult contemporary, oldies, classic rock, rock, and news/talk.

Saga Communications stock opened the day at $14.39 after a previous close of $14.36. The latest price was $14.29 (25-minute delay). Saga Communications is listed on the NASDAQ, has a trailing 12-month revenue of around USD$111.7 million and employs 589 staff.

  • Market capitalization: $92,607,288
  • P/E ratio: 14.79
  • PEG ratio: 0

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7. Cumulus Media Inc Class A (CMLS)

Cumulus Media Inc. , an audio-first media company, owns and operates radio stations in the United States. It owns and operates stations in various markets, as well as affiliated stations through Westwood One.

Cumulus Media Inc Class A stock opened the day at $1.43 after a previous close of $1.31. The latest price was $1.29 (25-minute delay). Cumulus Media Inc Class A is listed on the NASDAQ, has a trailing 12-month revenue of around USD$833.6 million and employs 2,464 staff.

  • Market capitalization: $24,557,490
  • PEG ratio: 0.5356

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Bottom line

While it’s possible to turn a profit investing in media stocks, keep in mind that — like any investment — media stocks are not immune to risk. These stocks are subject to fluctuating conditions — both in the market and in the broadcasting industry, so carefully vet your picks before you invest. And if you’re new to investing, or if it’s been awhile since you’ve taken a critical look at your investing accounts, compare brokers to make sure you’re getting the best features in your trading account.

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Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.

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