Media stocks hammered in FY24, unless you bought News Corp

The ASX200 rose by around 8% during the past financial year, however media stocks have taken a beating over the period, with a downfall in advertising and threats from technology companies just two of the reasons behind the crash.

Per the Fear and Greed podcast, the technology index is up 29% over the year, financial stocks jumped 23%, the consumer discretionary index was up nearly 20% and the REITs was up 17%.

But the media sector has tumbled over the last year, with major players like ARN, SCA, Nine, Seven, and Ooh!media all down significantly from their 12-month peaks. News Corp remains strong, up around 50% from its 12-month low.