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Disney Needs to Offer ‘All-You-Can Eat’ Streaming, Says Dan Loeb
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Activist investor Dan Loeb is calling on the Walt Disney Co. to do more to leverage its leadership position in sports, general entertainment and blockbuster franchises in order to unlock the full potential of its streaming services.
Loeb said in a letter to investors in his hedge fund Third Point Friday that his optimistic view of Disney’s streaming service has proved to be correct, with the division now generating over $15 billion in annual revenue and in turn helping drive the company’s stock up 70% since May 2020. The company has also doubled its medium-term Disney+ content investment while maintaining its profitability guidance due to the platform’s early success, he noted.