It's awards season and the major movie studios are rolling out their slate of Oscar contenders.
The latest James Bond film is already a $500 billion blockbuster, and this week's "Twilight" series finale is among the eagerly awaited releases that have Hollywood anticipating a stronger holiday season box office than a year ago.
Should investors think about adding some movie magic to their portfolios?
Six of the biggest movie studios are owned by large media conglomerates such as Walt Disney, Sony, Viacom and Time Warner.
"The movies for these larger companies are becoming less important over time," says Michael Corty, a Morningstar financial analyst. That means investors are better off focusing on the bigger picture, rather a company's film business.
Corty suggests looking at companies, with thriving TV or cable networks that now account for an increasing part of revenue.Associated Press