to show off its upcoming content slate. Netflix is on full offensive mode, and its new strategic endeavors are giving fresh hope to investors.
Its comeback arrives as Disney+’s rapid rise loses some momentum. Disney CEO Bob Chapek warned of a slowdown in subscriber growth for Disney+ at the Goldman Sachs Communacopia Conference in late September.investors should expect global paid subscriber growth in the low single-digit millions for the quarter ending in September. The warning sent Disney shares plunging more than 4%.
Investors had been banking on Disney+ to provide much-needed support for the media giant during a time in which its core businesses were suffering through the ongoing pandemic. Disney+ growth had been extremely strong and looked like Netflix’s strongest competitor in the streaming wars. However, the expectations headed into Q3 earnings shifted dramatically over the past couple of weeks. After Netflix’s top position in the streaming wars was threatened following the company’s weaker-than-expected first half, the mature streaming company could surprise investors this time around.
Even so, Netflix still has a lot to prove when it reports its third-quarter financial results on Oct. 19. Beating its own guidance will be crucial to locking in investor confidence in the company again. And who knows? If all goes well, maybe it’ll finally join Disney in the exclusive $300 billion market cap club.
Variety u helped Time Warner & WGA steal John Q my original film Starring Denzel Washington I lived it & knew my work when i saw it Yall paid my lawyer Nix 2 let u out case i didn't get a dime I wont give up
👌