Disney reported earnings Tuesday and the most notable part of the report was the announcement that its new streaming service will be $5 a month. Rich Greenfield, Media Analyst at BTIG, joins Your Cheddar to discuss his thoughts on the announcement.
Greenfield says this new streaming service is an additional add-on for ESPN. It's going to be for super fans who want an extra college football or NHL game, not their local market or high profile games. To Greenfield, this feels like a niche product that will not take ESPN over the top, which is what consumers are begging for. He says Disney refuses to go all-in on streaming and it's a big reason he's bearish on it.
Plus, Snap surprised the street and beat estimated earnings on Tuesday. Greenfield says the surprise is definitely an encouraging sign for investors. However, they still don't have guidance on where this young company will be in the future and that concerns some.
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Former Cisco Systems CEO John Chambers learned all about technology’s volatile highs and lows as a veteran of the internet’s early boom days during the late 1990s and the ensuing meltdown that followed the mania. And now he is seeing potential signs of the cycle repeating with another transformative technology in artificial intelligence. Chambers is trying take some of the lessons he learned while riding a wave that turned Cisco into the world's most valuable company in 2000 before a crash hammered its stock price and apply them as an investor in AI startups. He recently discussed AI's promise and perils during an interview with The Associated Press.
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