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Disney's (DIS) Inside Out 2 Crosses $500 Million in 8 Days

Disney DIS has returned 13.3% in the year-to-date period, outperforming the Zacks Media Conglomerates industry’s growth of 8.4%.

Disney’s solid content portfolio and brands, including Pixar, Marvel, Star Wars and National Geographic, are driving its theater and streaming business. The company is also expanding streaming service offerings through its platforms like Disney+, ESPN+, Hulu, Disney+ Hotstar and Star+, garnering investors’ confidence in its business.

Adding to these merits, the company also gained from the recent release of Inside Out 2. The movie Inside Out 2 was released on Jun 14 and became the biggest box office opening of 2024. It crossed $500 million at the box office worldwide in just eight days of its release, gaining the second-biggest animated box office opening status of all time.

This strong opening week has the potential to positively impact the public perception. This might keep the audience in the theater seats long after the opening weekend, adding to the revenues of Disney’s Theatrical Distribution segment.

The Walt Disney Company Price and Consensus

The Walt Disney Company price-consensus-chart | The Walt Disney Company Quote

Disney to Gain From Big-Budget Movie Releases

Disney has a robust line-up of big-budget movies that will be released over the next couple of years. The list includes Deadpool & Wolverine, Moana 2, Mufasa: The Lion King, Captain America: Brave New World, Snow White, The Fantastic Four, Zootopia 2 and many more.

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The launch of these big-budget movies will make the company a strong contender in the media and entertainment space, which has players like Comcast CMCSA, Warner Bros. Discovery, Inc. WBD and Paramount Global PARA.

A number of these big-budget movies will also be streamed on Disney+ alongside the theaters. This is expected to contribute to the subscriber base of Disney+, bolstering the company’s position in the streaming space.

Competition in the Streaming Space Affects Disney

Disney faces stiff competition in the streaming space from Netflix, Amazon, Comcast’s Peacock and Paramount Global’s Paramount+, as these platforms have huge content libraries. Additionally, the merger of WarnerMedia with Discovery to form Warner Bros. Discovery has stiffened the competition.

DIS’ streaming platforms, Hulu and Disney+, have also registered a decline in revenues due to a fall in the number of impressions on these platforms. The Disney+ platform has particularly registered lower impressions year over year due to the loss of Indian Premier League cricket tournament programming.

The streaming business needs significant investment in content and marketing, which is expected to keep Disney’s overall margins under pressure.

Conclusion

Disney’s business is expected to gain from the release of big-budget movies and positive feedback from the global consumer base. Moreover, its expanding footprint across Europe, Latin America and Japan is also contributing to its top line.

However, stiff competition in the media and entertainment space remains a major concern for the company. This has been worsened by the unimpressive box office performance of several Disney movies at the box office. These movies include The Marvels, Wish, Ant-Man and the Wasp: Quantumania and Elemental.

The Zacks Consensus Estimate for Disney’s third-quarter earnings is pegged at $1.19 per share, which has declined by a penny in the past 30 days.

Currently, Disney carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Comcast Corporation (CMCSA) : Free Stock Analysis Report

The Walt Disney Company (DIS) : Free Stock Analysis Report

Warner Bros. Discovery, Inc. (WBD) : Free Stock Analysis Report

Paramount Global (PARA) : Free Stock Analysis Report

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