Netflix has shrugged of glamorous debut numbers for Disney+
Shares of Netflix were slightly up in early trading, then dipped, but movement was basically “a non-event” said Raymond James analyst Justin Patterson. He said if anyone would have told him months ago that Disney+ would bank nearly 29 millionNetflix shares were trading off just 0.37% midday. Disney was down 3.8%
Walt Disney yesterday reported the Disney+ service launched on Nov. 12 had 28.6 signups as of Monday.Frozen and ‘Let It Go.’ The success of Disney+ is partially attributable to Netflix’ role as a pioneer, which helped drive video hardware and software innovation, encourage media bundling by broadband and wireless providers and shift consumer behavior away from linear,” Patterson said. “New disclosures from Hulu Live TV and YouTube TV reinforce that skinny bundles are an imperfect solution to linear TV challenges. Consumers want their Netflix … and now their Disney+.
BofA analyst Nat Schindler said Disney+ engagement trails that of Netflix, “reinforcing our view that Disney+ is not a substitute.” Disney’s highest-profile streaming releases this year, including Marvel shows and the second season of T, are “clustered” in the fall and fourth quarter of 2020, “which limits Netflix’s competition from a content perspective,” he said in a note picked up by Bloomberg.said Disney+ subscribers watched it an average of six to seven hours a week.
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