Fast Money Blog- 11/13/20

The biggest story of the week was Disney Earnings.

On Thursday, November 12th, The Walt Disney Company (DIS), reported Q4 earnings. The company posted revenue of $14.7 billion, down from $19.1 billion year-over-year. This was its first quarterly loss since 2001. 

While Covid-19 has hit Disney’s theme parks and studio division extremely hard, there was one silver lining:

Disney reported that exactly one year after Disney+ launched, the streaming service had 73.7 million paying subscribers.

Not only that, year over year subscription growth was up as follows:

ESPN+    195%

Hulu’s standard package    27% 

Hulu + Live TV     41%.

Disney now has 120.6 million paying subscribers across Disney+, Hulu, and ESPN+.

These numbers back up Disney’s promise to make streaming its number one priority.

Because of the recent streaming numbers I have to rate Disney a good date and a strong buy.