We use Google Analytics to count anonymous page views and understand which content gets read. No ads, no profiles. Decline keeps you on cookieless mode. Details.
The Walt Disney Company
Communication Services · Movies & Entertainment
0. DTC streaming (Disney+ ~125M subs, Hulu ~50M, ESPN+ ~25M) hit operating profitability in FY24 after $11B+ cumulative losses; Parks segment is the cash engine (~60% of operating income on ~35% of revenue); linear TV (ABC + cable nets) is the melting ice cube management has signaled openness to divest.
99/mo as the replacement. IP flywheel (Marvel/Star Wars/Pixar) feeds Parks attractions + streaming exclusives + consumer products.
Bull case:
- DTC margin ramp: Disney+ ARPU rising on password-sharing crackdown + ad tier; combined streaming op income guided to grow double-digits FY25-26
- Parks pricing power intact: per-capita guest spend up mid-single-digits YoY despite attendance softness; $60B capex plan over 10y signals confidence
- ESPN flagship DTC + sports-betting optionality (Penn Entertainment partnership) monetizes the most-watched US programming
- IP moat: Marvel/Star Wars/Pixar slate refresh + Avatar/Frozen sequels through 2027
Bear case:
- Linear TV decline accelerating: cable affiliate fees -3 to -5% annually, ad revenue down double-digits; cord-cutting structural
- Streaming subscriber growth maturing - Disney+ core sub count flat-to-down in developed markets, growth comes from price hikes
- Parks cyclical risk: international visitor decline + consumer-discretionary pressure showing in Q3 FY25 attendance miss
- Succession overhang: Iger contract through 2026, next CEO transition is the second attempt after Chapek
- Content spend ~$25B/yr remains heavy; ROIC on streaming still well below cost of capital
Each weekday: the scan's ENTER setups with entry, stop and target, every new ticker teardown, and the bubble shifts that move names like this one. Free. Education, not advice.
No spam. One email per day max. Pro adds Telegram trade alerts and higher AI-assistant limits.
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.
Auto-computed retracement of the trailing 52w low-high leg. Recomputed on each refresh; not a curated level.