Reportedly, Walt Disney Company (DIS, $170.57) stock received a rare Wall Street downgrade as Barclays put forward bold changes from the entertainment giant to reverse slowing growth at its streaming service, Disney+. Last month, Disney Chief Executive Officer Bob Chapek informed that the fourth-quarter global paid subscribers will grow by “low single digit”, in comparison with a rise of 58.5 million in the previous three months.
Disney’s rival streaming platforms such as Apple TV+, Netflix Inc, and Amazon Prime Video have had a different approach, as they invested heavily in original content to attract subscribers. Disney needs to more than double its current pace of growth to at least the same level as Netflix, to achieve a target of 230 million to 260 million Disney+ subscribers by the end of fiscal 2024, informed Barclays. Disney+ had 116 million paying customers, while Netflix, which is due to report its quarterly results this week, had 209 million subscribers as of the quarter ended June.
Dow 30 Component, The Walt Disney Company (DIS), and its subsidiaries is a diversified worldwide entertainment company that operates in four business segments: Studio Entertainment, Media Networks, Parks and Resorts, and Consumer Products & Interactive Media. To learn more about this Dow 30 Component, The Walt Disney Company (DIS), and to continue to track its progress please visit the Vista Partners Walt Disney Company, Coverage Page.
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