8 Up and Coming Streaming Companies and Services

3. Warner Bros. Discovery, Inc. (NASDAQ:WBD)

Number of Hedge Fund Holders: 70

On January 28, UBS raised its price target on Warner Bros. Discovery, Inc. (NASDAQ:WBD) to $30 from $20 while maintaining a Neutral rating on the shares, implying upside from the stock’s recent close of $28.63. The firm commenced trading on the NASDAQ exchange in 2022. At present, its outlook reflects impressive fundamentals across both its content and direct-to-consumer platforms.

According to its recent earnings call, Warner Bros. Discovery, Inc. (NASDAQ:WBD) has emerged as the top-performing film studio of 2025, leading the global box office across domestic and international markets. It is currently the only studio to surpass $4 billion in worldwide box office revenue this year, underscoring the strength of its theatrical slate and franchise portfolio.

The company’s streaming platform, HBO Max, has also demonstrated meaningful scale expansion to over 100 countries in 2025. Subscriber growth exceeded 30 million additions over the past three years, reflecting successful international rollout and content monetization. Importantly, the streaming segment has undergone a sharp financial turnaround, with EBITDA expected to exceed $1.3 billion in 2025, compared with a $2.5 billion loss three years ago.

Headquartered in New York City, Warner Bros. Discovery, Inc. (NASDAQ:WBD) operates as a global mass media and entertainment company. Established in April 2022 following AT&T’s spin-off of WarnerMedia and its merger with Discovery, Inc., it created a diversified platform spanning film, television, and streaming with improving profitability and cash generation. Warner Bros. Discovery ranks third in the list of up and coming streaming companies and services.

Oakmark Fund stated the following regarding Warner Bros. Discovery, Inc. (NASDAQ:WBD) in its fourth quarter 2025 investor letter:

“Warner Bros. Discovery, Inc. (NASDAQ:WBD) was the top contributor during the quarter. The U.S.-headquartered media company’s stock price surged as multiple parties submitted offers to acquire all or part of the business. Following several rounds of bidding, WBD announced an agreement to sell its Streaming and Studios business to Netflix, while spinning the Global Networks business to shareholders. Paramount Skydance subsequently made a direct $30 per share offer to shareholders for the entire company. We are pleased with the steps the WBD board has taken thus far to unlock shareholder value. We will continue to closely monitor developments as this bidding war unfolds.”