Media Stocks to Buy: Disney (DIS)
Disney (NYSE:DIS) recently reported mixed quarterly results, missing earnings and revenue expectations. However, there were a few positives. First, its Parks and Experiences business is doing better than expected, as revenue in the most recent quarter surpassed analysts’ expectations.
What does this have to do with media though?
I’m glad you asked. Even though Disney’s parks business is doing well – indicating that consumers are out-and-about and “returning to normal” – its streaming platforms are going gangbusters.
Disney+ added 7.9 million new subscribers last quarter, well ahead of estimates calling for 2 million. It now boasts more than 137.7 million subs. When combined with its other platforms – like Hulu and ESPN+ – the total number of subscribers balloons up to more than 200 million.
This is a streaming and media juggernaut and should not be ignored. Disney stock was recently down about 51% from its all-time high, giving investors a great “sale price” to begin accumulating the stock.
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