Netflix is facing a decline in subscribers, and Walt Disney’s flagship product is due for a comedown. A price war is on the horizon, and Disney has the most to lose: jennifersaba
flagship product is due for a comedown. A price war is on the horizon, and Magic Kingdom boss Bob Chapek has the most to lose.
Eight out of every 10 U.S. households has a streaming service, according to a survey from MoffettNathanson. On average, they subscribe to three direct-to-consumer products, 50% more than three years ago, reckons Morgan Stanley. And television watchers are shelling out an average of over $50 on online video services versus approximately $35 in 2019, according to the investment bank.
There is evidence that the streaming market has hit a saturation point. Netflix lost 1.3 million American and Canadian customers in the second quarter, where it enjoys the highest average revenue per user.When it comes to pricing power though, Netflix has the muscle and breadth of content from “Stranger Things” to “The Gray Man.
Still, Netflix has more room to maneuver. Disney and Netflix EBITDA margins are both expected to hit around 20% in 2024, but Disney’s has been falling while Netflix's is up significantly, according to Refinitiv. Neither company may want a price war, but the Mouse House has bigger holes.Walt Disney will report earnings for the three-month period ending June on Aug. 10. Analysts on average are expecting revenue to increase 23% year-over-year to $20.9 billion and earnings of $1.
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