Disney’s attempts to launch its own streaming service may be “doomed to failure.”
That’s according to BTIG analyst Rich Greenfield, who says the media giant can’t compete with the likes of Netflix, because it refuses to go “all-in” on streaming.
“They’re trying to do this balancing act where they continue to profit from the legacy business model with ESPN and then try to create a streaming service as an incremental add-on,” he told Cheddar in an interview Wednesday after the company reported earnings. “They’re not putting the entire company into one full effort to make streaming successful. They’re trying to balance multiple profit centers as well as trying to start a new business.”
Disney reported earnings after the bell Tuesday, revealing some details about the streaming services it announced last year. A new series of “Star Wars” films will be released exclusively on its entertainment-focused product, which will launch next year. And ESPN Plus will debut this spring at a cost of $4.99 a month.
And while the company hopes this service will help revive its struggling sports business, Greenfield says ESPN Plus only serves a niche market.
“This is going to be for a superfan who wants an extra college football game or some extra NHL games...extra tertiary content that wasn’t good enough to air on TV,” he said. “This is not taking ESPN and putting it over the top, which is obviously what sports fans want. What consumers are begging for is to not take the big bundle.”
For full interview, [click here](https://cheddar.com/videos/disney-spreads-streaming-magic).
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
