“In fact, we think DTC will only be meaningfully profitable for the biggest scale players. “We think streaming losses could remain elevated with low clarity on break-even or long-term profitability,” Cahall continued. Discovery should see Max break even by next year. Disney+ expects to be profitable by 2024, and Warner Bros. According to Wells Fargo’s model, Cahall doesn’t see Paramount or even Comcast breaking even in streaming until 2027. The way Cahall sees it, Paramount+ is “fighting hard for fifth place” in the streaming wars behind Netflix, Disney+, Hulu, and HBO Max, and it’s competing with the likes of Peacock, Apple TV+, and Amazon Prime Video. This comes in the wake of the company having already spent $1.7 billion in merging Showtime with Paramount+, based on its Q1 earnings figures. Disney+ Lost Another 4 Million Subscribers in March QuarterĬahall in his analysis suggested that Bakish “change course” and consider “shutting down DTC,” specifically Paramount+.
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