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The Walt Disney Company will participate in a question-and-answer session at the UBS Global Media and Communications Conference on December 9, 2024, starting at 1:30 PM ET. A live webcast of the event will be available on their investor relations website.
Streaming services are capitalizing on the holiday season, offering promotions that attracted 6.9 million new sign-ups during Black Friday 2023, an 82% increase from the previous year. Paramount+ gained 1.8 million customers, while Hulu added 1.7 million through these deals.
Since Election Day, the top 10 S&P 500 stocks have surged by 18% or more, with Axon Enterprise and Tesla leading the pack with gains over 35%. This momentum is attributed to anticipated Trump administration policies favoring deregulation and mergers, alongside strong earnings reports, particularly in AI-driven sectors. Investors are advised to be cautious, as short-term price movements can be risky without understanding the underlying factors.
Warner Bros. Discovery Inc. is launching its Max streaming service in Asia, adopting a unique strategy that focuses on leveraging popular Hollywood franchises like Harry Potter and Friends instead of investing heavily in local content. By partnering with local platforms, the company aims to build subscriber loyalty efficiently while minimizing initial costs, distinguishing itself from competitors like Netflix and Disney.
Walt Disney Co. has reported a profit of $321 million from its streaming services, including Disney+, Hulu, and ESPN+, marking the second consecutive quarter of profitability for the unit. This success positions Disney among the leading legacy media companies now generating revenue from direct-to-consumer streaming, as it aims for $1 billion in streaming profit in the upcoming fiscal year.
JioStar, formed from the merger of Reliance Industries' media division and Walt Disney's local unit, aims to capture a significant share of India's $28 billion entertainment market. The company is positioning itself against established players like Netflix and Amazon.
Reliance Industries, Viacom18 Media, and Walt Disney Company have finalized a merger of Viacom18’s media and JioCinema businesses into Star India, forming a joint venture valued at Rs 70,352 crore. The new entity will be managed by three CEOs: Kevin Vaz for entertainment, Kiran Mani for digital, and Sanjog Gupta for sports. This merger establishes a significant media powerhouse in India, operating over 100 television channels and serving more than 50 million subscribers through JioCinema and Hotstar.
Disney+ Hotstar's paid subscriber base reached 35.9 million in Q4-FY24, marking a 1.1% increase from the previous quarter. This growth follows a challenging period with six declines in the last eight quarters. However, the average monthly revenue per subscriber fell to $0.78, down from $1.05.
Wall Street aims to regain momentum post-election after two quiet sessions, with a focus on the implications of Donald Trump's potential return to the White House. Wholesale inflation in October met expectations, with the producer price index rising 0.2% month-over-month, while initial jobless claims fell to 217,000. Disney shares surged following better-than-expected quarterly results, bolstered by its streaming and movie sectors, along with a positive multiyear earnings outlook.
US equity markets surged following a red sweep in the presidential election and a 25 basis point Fed rate cut, bringing the Federal Funds rate to 4.50%-4.75%. The ASX 200 also rose by approximately 2%, supported by US market trends, while the RBA maintained its rate at 4.35%. Key economic indicators are set for release next week, including US CPI and Australia's employment report.
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