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Film and television majors spend big on stock buybacks

This is a 2023 report. It is the most current stock buyback report for US film and television available on Spendwell.

rankings

MORE INFO
Companies spending less on stock buybacks rank higher.
better choice

Lionsgate

stock buybacks
economic impact | wealth concentration
Lionsgate spent an average of $1,200,000 repurchasing its own company stock over each of the last reported 5 years.

1/10

Netflix

stock buybacks
economic impact | wealth concentration
Netflix spent an average of $120,004,400 repurchasing its own company stock over each of the last reported 5 years.

2/10

Paramount Global

stock buybacks
economic impact | wealth concentration
Paramount Global spent an average of $140,200,000 repurchasing its own company stock over each of the last reported 5 years.

3/10

Warner Bros. Discovery

stock buybacks
economic impact | wealth concentration
Warner Bros. Discovery spent an average of $320,400,000 repurchasing its own company stock over each of the last reported 5 years.

4/10

Fox Corporation

stock buybacks
economic impact | wealth concentration
Fox Corporation spent an average of $520,200,000 repurchasing its own company stock over each of the last reported 5 years.

5/10

Disney

stock buybacks
economic impact | wealth concentration
Disney spent an average of $715,400,000 repurchasing its own company stock over each of the last reported 5 years.

6/10

Sony

stock buybacks
economic impact | wealth concentration
Sony spent an average of $845,379,640 repurchasing its own company stock over each of the last reported 5 years.

7/10

Amazon

stock buybacks
economic impact | wealth concentration
Amazon spent an average of $1,200,000,000 repurchasing its own company stock over each of the last reported 5 years.

8/10

Comcast

stock buybacks
economic impact | wealth concentration
Comcast spent an average of $4,871,600,000 repurchasing its own company stock over each of the last reported 5 years.

9/10

Apple

stock buybacks
economic impact | wealth concentration
Apple spent an average of $77,632,800,000 repurchasing its own company stock over each of the last reported 5 years.

10/10

worse choice

report summary

Over the last 5 years, these 10 companies collectively spent over $431,000,000,000 of their income repurchasing their own company stock, a practice that was illegal in the United States until the 1980s. This expenditure on buybacks almost doubles what these same companies spent on the prior five years, which was over $241,000,000,000. Stock buybacks disproportionately benefit insiders like corporate executives and institutional investors with the capabilities of maximizing buyback periods. Because stock buybacks allow beneficiaries to forgo the regular income taxes they would typically pay on ordinary dividends, buybacks by the film and television industry have likely saved their wealthiest shareholders $10s of billions in taxes over the last decade. This report compares the 10 largest US-operating film and television companies on their stock buybacks over the last 5 years. Companies that spend less on buybacks, rank better.

about this industry

Leading film and television media producers.
[beta]*

Stock Repurchases Methodology

During the 1980s in the United States it became legal for publicly traded companies to repurchase or buyback their own stock. Prior to this, stock buybacks were considered a form of self-dealing that would encourage company executives, often compensated with stock, to deploy less capital in investments and workers and more capital into temporarily inflating their company’s stock. Since stock buybacks became legal in the US, capital investments made by publicly traded corporations have steadily declined, workers wages have not kept up with profitability all while buybacks have steadily increased.

In the United States, publicly traded corporations are required to report the amount they spend repurchasing their own company stock to the Securities and Exchange Commission (SEC). These SEC-reported repurchase figures represent publicly accessible, directly measurable and independently verified data points for inclusion in a Spendwell ranking. This data is typically reported at a corporation’s fiscal year end. This Spendwell ranking is predicated on the values-based statement that a corporation should spend less on buying back its own stock.

Corporations that spend less money repurchasing their own stock rank higher than those spending more on buybacks. In order to account for fluctuations in annual income, board repurchase approvals and other variances, Spendwell reports on the last five available years of a company’s repurchase history.

In some reporting instances, Spendwell’s rankings will include private companies which will have no stock repurchase information. Private companies do not repurchase stock and will be ranked accordingly. All corporations with accessible buyback information are ranked based on the previously mentioned data reported to the SEC through end-of-year or annual reports, which can be accessed through the SEC’s Edgar search tool here:

SEC EDGAR SEARCH

Search for a company by name to view its filed 10-k reports.

For Spendwell's ranking purposes, stock buyback data is considered and compared to other companies based on the year in which a fiscal year actually ends, which is not necessarily the company's reported or designated fiscal year.

*[All methodologies are in beta. Expect revisions and improvements.]
[beta]*

Stock Repurchases Methodology

During the 1980s in the United States it became legal for publicly traded companies to repurchase or buyback their own stock. Prior to this, stock buybacks were considered a form of self-dealing that would encourage company executives, often compensated with stock, to deploy less capital in investments and workers and more capital into temporarily inflating their company’s stock. Since stock buybacks became legal in the US, capital investments made by publicly traded corporations have steadily declined, workers wages have not kept up with profitability all while buybacks have steadily increased.

In the United States, publicly traded corporations are required to report the amount they spend repurchasing their own company stock to the Securities and Exchange Commission (SEC). These SEC-reported repurchase figures represent publicly accessible, directly measurable and independently verified data points for inclusion in a Spendwell ranking. This data is typically reported at a corporation’s fiscal year end. This Spendwell ranking is predicated on the values-based statement that a corporation should spend less on buying back its own stock.

Corporations that spend less money repurchasing their own stock rank higher than those spending more on buybacks. In order to account for fluctuations in annual income, board repurchase approvals and other variances, Spendwell reports on the last five available years of a company’s repurchase history.

In some reporting instances, Spendwell’s rankings will include private companies which will have no stock repurchase information. Private companies do not repurchase stock and will be ranked accordingly. All corporations with accessible buyback information are ranked based on the previously mentioned data reported to the SEC through end-of-year or annual reports, which can be accessed through the SEC’s Edgar search tool here:

SEC EDGAR SEARCH

Search for a company by name to view its filed 10-k reports.

For Spendwell's ranking purposes, stock buyback data is considered and compared to other companies based on the year in which a fiscal year actually ends, which is not necessarily the company's reported or designated fiscal year.

*[All methodologies are in beta. Expect revisions and improvements.]

Ranking



rankings

MORE INFO
Companies spending less on stock buybacks rank higher.
better choice

Lionsgate

stock buybacks
economic impact | wealth concentration
Lionsgate spent an average of $1,200,000 repurchasing its own company stock over each of the last reported 5 years.

1/10

Netflix

stock buybacks
economic impact | wealth concentration
Netflix spent an average of $120,004,400 repurchasing its own company stock over each of the last reported 5 years.

2/10

Paramount Global

stock buybacks
economic impact | wealth concentration
Paramount Global spent an average of $140,200,000 repurchasing its own company stock over each of the last reported 5 years.

3/10

Warner Bros. Discovery

stock buybacks
economic impact | wealth concentration
Warner Bros. Discovery spent an average of $320,400,000 repurchasing its own company stock over each of the last reported 5 years.

4/10

Fox Corporation

stock buybacks
economic impact | wealth concentration
Fox Corporation spent an average of $520,200,000 repurchasing its own company stock over each of the last reported 5 years.

5/10

Disney

stock buybacks
economic impact | wealth concentration
Disney spent an average of $715,400,000 repurchasing its own company stock over each of the last reported 5 years.

6/10

Sony

stock buybacks
economic impact | wealth concentration
Sony spent an average of $845,379,640 repurchasing its own company stock over each of the last reported 5 years.

7/10

Amazon

stock buybacks
economic impact | wealth concentration
Amazon spent an average of $1,200,000,000 repurchasing its own company stock over each of the last reported 5 years.

8/10

Comcast

stock buybacks
economic impact | wealth concentration
Comcast spent an average of $4,871,600,000 repurchasing its own company stock over each of the last reported 5 years.

9/10

Apple

stock buybacks
economic impact | wealth concentration
Apple spent an average of $77,632,800,000 repurchasing its own company stock over each of the last reported 5 years.

10/10

worse choice


This report is based on data collected through 2023-09-25.
Report id: 220--2024-02-21T10:28:28.691Z

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