Netflix is the only company in the group analyzed here that’s expected to report strong growth in revenue and earnings.
In addition, investors want to know more about ViacomCBS’ plans to repackage its streaming services as Paramount Plus and Discovery’s proposed app to join the bandwagon of offering an aggregated streaming option for programming from its suite of lifestyle and factual networks. Many also have questions about Disney’s Star-branded product for overseas markets, although they might wait for the company’s Investor Day presentations on Dec. 10.
“New content is what everybody thinks moves the needle,” Pachter says. “But there isn’t going to be that much” following months of pandemic-related production halts. The advertising picture will be more complicated. Combined national and local TV ad sales likely fell about 14% in Q3 vs. the period last year, despite the additional spending for political campaigns. Investors want to know if that’s a blip or evidence that advertisers are accelerating the shift in their spending to digital.