Disney: The Renaissance and the Empire – Acquired

Disney: The Renaissance and the Empire – Acquired — Transcript

Market views

Bullish

DIS— Disney's IP franchises (Disney Animation, Pixar, Marvel, Lucasfilm) are unkillable generational myths that transcend business cycles. Despite current challenges, these franchises will always come back and remain core to society's cultural mythology.
NFLX— Netflix has achieved dominant scale economies in streaming with 325M+ subscribers generating $45B revenue and $13.5B operating income. The streaming business fundamentally requires scale, and Netflix has won as the clear leader with superior unit economics.

Bearish

CABLEBUNDLE— The cable bundle business model is in terminal decline. ESPN lost 3M subscribers in 2015 and continues declining, while cord-cutting accelerates. The affiliate fee model that generated billions in guaranteed profits is being destroyed by streaming.

Not investment advice.