The Walt Disney Company saw its stock price target slashed by more than $30 from a Wells Fargo analyst who cited the troubled studio's many problems, including mounting box office failures and streaming losses.
. On the streaming side, Disney+ recently reported losing 300,000 domestic subscribers for the most recent quarter — an ominous sign for a still-young streamer that should be gaining customers.across the board, which is further alienating fans. The company is jacking up Disney+’s monthly subscription price to $13.99 from $10.99 — a 27 percent increase. Last year, the price rose to $10.99 from $7.
But selling off formerly robust channels including ABC and FX may not be easy. “Disney won’t be able to successfully divest non-core linear,” the Wells Fargo analyst wrote. The transition of ESPN to streaming is also likely to face turbulence and could hurt earnings. Still, Wells Fargo retained its “overweight” rating on Disney, saying investors are already well aware of all of the bad news., Disney is drowning in a sea of bad news cycles, including financial woes that have led to the layoff of 7,000 workers and its ongoing culture war battles over the studio’s insistence on pushing the radical LGBTQ agenda on children.
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