Disney Needs the NBA and NFL
Sports fans are loving the overlap of NBA playoff basketball and working from home, but no one loves it more than ESPN and Disney, which is the media company that can gain the most from the return of live sports.
Impact of Spotify’s Podcast Splurge Remains Unclear
Spotify’s guidance for the second half of 2020 indicates upcoming podcast content does not seem to be increasing 2020 monthly active users compared to prior expectations, according to Wells Fargo media analyst Steven Cahall.
UBS Puts Netflix on Pause with Downgrade
Netflix downgraded to NEUTRAL from BUY: UBSS lowered its rating and reiterated its price target of $535, which UBS says reflects solid current user dynamics vs. tougher comps for sub growth in the years ahead.
Goldman Sees Netflix-Like Potential in Disney+, Initiates with BUY Rating
Goldman Sachs thinks Disney+ has the potential to mimic the scale and economics of Netflix. The firm initiated coverage of Disney with a Buy rating and a 12-month price target of $137 on Monday, calling the company a favorite to emerge from cable TV’s cord-cutting avalanche as a winner.
No College Sports This Fall Would Hurt These 3 Stocks the Most
The widespread cancellation of all collegiate sports in the fall due to COVID-19 would be most damaging for Disney, Fox, and Viacom, according to Guggenheim Securities.
SiriusXM Gets Serious About Podcasting with Stitcher Acquisition
SiriusXM is reportedly closing in on a deal to purchase E.W. Scripps’ Stitcher podcast business for about $300 million, a move that would give the satellite radio company access to popular content, an advertising unit, and a distribution platform.
Spotify Share Price Not Justified: Analyst
While Spotify bulls expect its podcast strategy to boost advertising profits and subscriber additions, Wells Fargo analyst Steven Cahall, who has an UNDERWEIGHT rating and $175 price target, says the stock price has gotten ahead of itself.
Warner Music Group Gets Flurry of Positive Ratings from Wall Street
Warner Music Group is getting the approval of several analysts as many begin initiating coverage of the pure-play music company with positive ratings and price targets ranging from $28 to $40.
A Whole New Norm Could Spell Trouble for Disney
Disney’s dependence on experiences, particularly Parks and Films, puts its business at the mercy of an untamed coronavirus outbreak. Wells Fargo Securities reiterated its Equal Weight rating and bumped up its price target to $118 from $107, saying it is not convinced the country or world will soon have a handle on the pandemic.
Snap Price Target Increased to $26 by Stifel
Snap is building a case that it is among the best-positioned companies to capture a growing share of digital advertising dollars in a post-COVID environment. On Friday, the Snapchat parent company received a price target hike to $26 (previously $18) from Stifel analyst John Egbert.
The ‘Hidden Value’ of Amazon’s Media Business
Amazon’s media businesses today are worth about $500 billion, or 38% of the internet giant’s total value, according to new analysis from Needham. Analyst Laura Martin, who initiated coverage of the stock Wednesday with a $3,200 price target, says Amazon’s media assets are 90% as valuable as AWS, “but these revenue streams are somewhat ‘hidden’ since AMZN doesn’t break out their revenue or operating income.”
Survey of Netflix Subscribers Indicates Pricing Power Abroad
International growth is the key for Netflix as it faces intense competition in the U.S. and abroad. Jefferies surveyed Netflix subscribers across the U.S, UK, and India, and found that the streaming service has the flexibility to raise prices in some of its most important markets.
Market is Overlooking Power of Barstool Brand for Penn National: Analyst
Union Gaming raised its price target for Penn National to $40 from $28 in part because it believes the market is underestimating the influence of the Barstool brand and its key personalities, namely founder Dave Portnoy and CEO Erika Nardini.
Warner Music Revives IPO, Gives Alternative Way to Bet on Streaming
Warner Music Group launched its IPO of 70,000 shares today. If you want to invest in the success of superstar recording artists such as Ed Sheeran, Bruno Mars, and Cardi B, WMG is giving you the chance to do so through ownership of its stock.
How Joe Rogan Fits Into Spotify’s Plan for Podcast Supremacy
Spotify is adding another prized asset to its growing list of podcast properties with the acquisition of The Joe Rogan Experience podcast and video-cast.