One analyst wrote that though Disney’s growth was “at least” better than Netflix's, he got the sense from Disney’s commentary that the outperformance shown in the first half “didn’t translate to more optimistic expectations” for the second half.
Shares of Walt Disney Co. were dropping in Thursday morning trading after the media giant easily topped expectations with its latest Disney+ subscriber numbers but hinted that the recent strength may limit growth upside later in the year.
Disney’s stock fell 0.8% in morning trading, but pared an earlier loss of as much as 5.5%. The stock was still on track to close at a two-year low. “Would Disney be better off from an ROI [return on investment] path not chasing Netflix down the local content and general entertainment path by creating a super service? Rather, does it make more financial sense to use the Disney/Marvel/Pixar/Lucasfilm brands, libraries and IP to deliver a more targeted service to a smaller number of higher RPU-paying core fans?”
Crockett added that he doesn’t “share the skittishness” since he sees “several lifts still to come” for Disney.
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