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Rohan Reddy of Global X ETFs warns against buying the Disney Grooming Syndicate’s sinking stock, which is down primarily due to its failure with streaming.
“Subscribers are pretty tough to come by these days, and we’ve seen that with a number of different media stocks,” Reddy said.“No. I think is a pretty challenging space to be in,” he answered. “The legacy media sector is one that a lot of institutional investors have largely stayed away from. It’s really the companies that have a newer business model. Cracking that code is the challenge.”
He added, “But we do think the companies, for example, like Netflix that figure it out will be the ones that will be the winners in the future.”quarter financially, losing just $18 million compared to the $216 million loss during the previous quarter and the $659 million loss during this same quarter last year.“Overall, Disney reported a net loss of $20 million, or 1 cent per share, for the quarter, compared to a $1.
Disney’s traditional TV business continues to suffer from declining viewership and was hurt in the quarter by a decline in advertising revenue. It also brought in lower affiliate revenue as a result of its new deal with Charter Communications, which includes the cable company dropping eight of Disney’s cable networks. In return, Disney will get paid for its Disney+ service, which Charter offers to a majority of its customers.
Disney was making untold billions annually on cable TV networks no one watched. That affirmative action program is now coming to an end. Today, Disney must survive on streaming, which is merit-based. Through their cable bills, and for decades, a hundred million households funded all those Disney networks they never watched. If Disney wants to make money today, it must attract streaming subscribers who actually want to pay for Disney’s content.
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