Fewer Americans are hunkering down to watch professional football, and that could have a negative impact on some media stocks.
The first two weekends of NFL football saw 12 and 15 percent drops from the previous year’s, respectively, according to The Hollywood Reporter. And with less eyeballs trained on the tube, advertising revenue is sure to suffer.
Already, three of the four networks which carry NFL games have been slumping downward, THR reported Wednesday. Only Fox television network’s parent company, 21st Century Fox, is slightly up since Sept. 7.
“Continued declines in NFL ratings again this season will likely place further downward pressure on media stocks,” Michael Morris of Guggenheim Securities said, THR reported. ”[T]he NFL is an indicator of overall prime-time programming ratings performance.”