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Stock tanks on earnings canada goose uk outlet warning
Disney wasn’t the happiest canada goose outlet canada place on earth for Canada Goose Parka investors Thursday and other big canada goose outlet online media stocks weren’t exactly magic kingdoms either. Canada Goose Jackets Shares of Disney (DIS) fell Canada Goose Coats On Sale more than 4% after CEO canada goose black friday sale Bob Iger official canada goose outlet said at a Bank of America media conference that the company’s earnings were likely to be flat this year. Wall Street had previously expected a 3% increase in profit from a year ago.
Disney’s Canada Goose Outlet stock, which was down slightly last year, is now lower for this year, too.
Iger canada goose store canada goose outlet parka expressed optimism that the company’s uk canada goose outlet theme park business, which canadian goose jacket accounts for more than a third of Disney’s overall revenue, would continue to do well.
Investors are nervous about the potential impact of Hurricane Irma on Disney World in Orlando, however. Disney has also been hurt by concerns about the health of Canada Goose online ESPN, which has been losing subscribers.
A lackluster canada goose outlet jackets year at the box office has also hurt big media companies, although Disney cheap Canada Goose has had some big hits, and “Star Wars canada goose outlet shop cheap Canada Goose Parkas Episode VIII: The Last Jedi” is due out in December.
Disney wasn’t the only media giant with bad news Thursday. canada goose factory outlet Comcast (CMCSA), which owns NBCUniversal and DreamWorks Animation as well as a cable empire, plunged canada goose outlet store uk 5%, too.
A Comcast https://www.expeditionparkaoutlets.ca executive warned (also at the Bank of America conference) canada goose outlet new york city that it expected to lose subscribers to streaming media.
There canada goose outlet black friday also could be an impact from cable and phone service Canada Goose Online disruptions due to Hurricanes Harvey and canada goose canada goose factory sale outlet uk sale Irma in Texas and Florida two states where Comcast has canada goose clearance sale a big presence.
Related: Hollywood had its worst summer canada goose canada goose uk shop outlet uk in 20 years. Can fall save it?
Shares canada goose outlet nyc of other big media companies, including studio and TV network owners CBS (CBS), Viacom (VIAB), Fox canada goose outlet toronto factory (FOXA) and Discovery Communications (DISCA) also fell canada goose clearance Thursday.
So did cable companies Charter buy canada goose jacket (CHTR) and future canada goose outlet online uk Time Warner owner AT (T). (CNN is a subsidiary of Time Warner (TWX), and AT deal to canada goose outlet store buy Time Warner is expected to close later uk canada goose this year.)
But shares canada goose coats on sale of Netflix (NFLX), which many cheap canada goose uk on Wall Street feel has emerged as the biggest threat to Canada Goose sale traditional media companies, canada goose outlet in usa were up slightly Thursday and have gained a stunning 45% this year. the Star Wars franchise) would start to stream exclusively on Disney’s new streaming network in 2019.
Many in Hollywood and on Wall Street canada goose uk black friday expected that would be the case after the House of Mouse announced plans to create its own streaming media service earlier this year. Iger made it goose outlet canada official.
Still, investors seem more concerned about canada goose outlet sale the ability of Disney and other traditional media companies to keep profiting from content. Netflix is increasingly producing its own hits and is less reliant on Disney and other studios.
The same can canada goose jacket outlet be said for Amazon (AMZN), which has several popular shows streaming canada goose outlet reviews for subscribers to its Prime Instant Video service. Apple (AAPL) is emerging as buy canada goose jacket cheap a canada goose threat to Hollywood, too.
To that end, the Hollywood Reporter said earlier this week that Apple and Amazon may bid canada goose black friday sale for the film rights for the next batch of James Bond movies. MGM is seeking a new studio partner for canada goose coats the 007 movies.
Related: Box office slump hurts the big movie theater chains too
Time Warner’s Warner Bros., NBCUniversal, Fox and Sony which had the previous Bond deal are also said to be in the running.
So it’s pretty clear that the mainstream media industry is in flux canada goose outlet and investors are apprehensive.
And Disney has a big unique problem: Iger won’t be CEO forever. He recently extended his contract. But he can’t keep doing that indefinitely. There may be a last Jedi, but Iger won’t be the last Disney CEO.