Shares of Walt Disney Co. were dropping in Thursday morning trading after the media giant easily topped expectations with its latest Disney+ subscriber numbers but hinted that the recent strength may limit growth upside later in the year.
Disney’s stock fell 0.8% in morning trading, but pared an earlier loss of as much as 5.5%. The stock was still on track to close at a two-year low. “Would Disney be better off from an ROI [return on investment] path not chasing Netflix down the local content and general entertainment path by creating a super service? Rather, does it make more financial sense to use the Disney/Marvel/Pixar/Lucasfilm brands, libraries and IP to deliver a more targeted service to a smaller number of higher RPU-paying core fans?”
Crockett added that he doesn’t “share the skittishness” since he sees “several lifts still to come” for Disney.
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