NETFLIX DOWNFALL
AT&T will roll out a new streaming service called HBO Max. The WarnerMedia offering, planned for 2020, is set to include programs from Warner Bros., CNN, The CW, and other content providers, as well as exclusive rights to stream every episode of "Friends," previously on Netflix. New streaming providers, including Disney+ and Apple+ — are blowing budgets in the millions of dollarson shows to remain competitive against the likes of Netflix and Amazon Prime.
The Undisputed King of Content
Disney owns Marvel, Pixar Animations, Star Wars, ESPN, National Geographic, Modern Family, and The Simpsons. Not to mention all the classic characters like Mickey Mouse and Donald Duck.
In six of the past seven years, Disney has produced the world’s top-selling movie.
Here’s a list of the five highest-earning movies of 2018:
- Avengers Infinity War
- Black Panther
- Jurassic World: Fallen Kingdom
- Incredibles 2
- Bohemian Rhapsody
All except Jurassic World are Disney productions. Clearly, Disney is king of the blockbuster. Over the past six years, its average film has raked in $1.2 billion at the box office.
On July 17, the company released its Q2 shareholder letterand reported a nearly 50% miss on projected paid subscriber growth, writing, “Paid membership grew by 2.7m, less than the 5.5m in Q2 a year ago and our 5.0m forecast.”
The miss precipitated a more than 10% plummet in Netflix stock, as investors are left asking: Why the sudden drop in subscriber growth?
