Finimize - 😭 Disney overtakes Netflix

Netflix got a taste of Disney magic | Honda's a survivor |

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Today's big stories

  1. Disney overtook Netflix to become the world’s biggest streaming company
  2. We’ve laid out the stock market winners and losers of the recent US economic bill – Read Now
  3. Honda suffered from a laundry list of problems last quarter, but still posted better-than-expected earnings

Disney Shows Netflix How It’s Done

Disney Shows Netflix How It’s Done

What’s Going On Here?

Disney announced late on Wednesday that it now has more subscribers than Netflix.

What Does This Mean?

Netflix hemorrhaged subscribers last quarter, losing 970,000 of them to the two-headed beast of rising inflation and increasing competition. But as tricky as this environment is, Disney proved that it’s still very possible to win customers over: its flagship streaming service, Disney+, added 14.4 million new subscribers last quarter. That’s far more than the near-10 million analysts were expecting, and brings its total to 152 million. Add in the firm’s Hulu and ESPN+ subscribers, and Disney now boasts 221 million members across its streaming platforms – putting it ahead of Netflix for the first time (tweet this). It rounded things out with a theme park segment on magical form, and overall revenue came in 26% higher last quarter than the same time last year.

Why Should I Care?

Zooming in: Profitability > growth.
There is one caveat, mind you: almost two-thirds of Disney+’s 14.4 million new subscribers were in India, where the average revenue per customer is a fraction of what it is elsewhere. That means its subscriber growth isn’t pulling as much weight as it should be, and might be why Disney is now prioritizing earning more from its existing users. There’s plenty of room for improvement on that front: its streaming business posted a loss of $1 billion last quarter – three times more than the same time last year.

The bigger picture: We’ll be right back after these messages.
Disney is taking a two-pronged approach to boosting its profitability: adding commercials and hiking prices. Starting in December, Disney+ subscribers will have to watch ads to keep paying $8 a month, or pay $3 more for an uninterrupted experience. This Sophie’s Choice is bound to put some viewers off, so it’s no coincidence that the company slashed its 2024 subscriber forecast by 15 million.

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Analyst Take

The Winners And Losers Of The US Economic Bill

The Winners And Losers Of The US Economic Bill
Photo of Carl Hazeley

Carl Hazeley, Analyst

The US government is set to sign the Inflation Reduction Act into law this week.

It’s been a long time coming, with a lot of push and pull within the governing party to find a compromise that would get the votes they need.

But it’s finally done: a massive economic package that includes $370 billion worth of climate-related spending, among a few other major legislative wins.

And with spending of that size, you can bet there’ll be companies that benefit and those that lose out.

So that’s today’s Insight: the winners and losers of the US’s economic bill.

Read or listen to the Insight here

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Life Gives Honda Lemons

Life Gives Honda Lemons

What’s Going On Here?

Honda posted better-than-expected earnings earlier this week.

What Does This Mean?

Like other Japanese firms with big international sales, Honda is doing well out of a weaker yen that makes its overseas revenue worth more when it’s converted back. So even though it sold fewer cars last quarter than it did the same time last year, the company’s revenue still climbed by a better-than-expected 7%. And sure, Honda’s profit was 9% lower than it was the same time a year ago: it is, after all, contending with rising material costs, supply chain disruptions, persistent chip shortages, Chinese lockdowns – the list goes on. But analysts were expecting that profit to fall by twice as much, and Honda went on to bump up its full-year revenue and profit forecasts too. It even said it would buy back 100 billion yen ($741 million) worth of its own shares, which investors liked the sound of: they sent Honda’s shares 7% higher after the news.

Why Should I Care?

For markets: Honda’s got 99 problems.
Still, Honda urged caution about the future, not least because it thinks the long-standing chip shortage will last until at least early 2023. The geopolitical tensions in the Taiwan Strait – a crucial shipping lane used to supply a big portion of the world’s chips – aren’t helping either, which is why Honda revealed that it had started to build up its chip stockpiles. But even if the carmaker solves that problem, new Chinese lockdowns and enforced energy rationing in Europe could be next.

The bigger picture: Speak no EVil.
Japanese carmakers are betting big on hybrid cars, but they’ve mostly been leaving fully electric vehicles by the wayside. Just 18% of Honda’s production, 14% of Toyota’s, and 22% of Nissan’s are expected to be pure battery EVs by 2029, according to IHS Markit. That pales in comparison to, say, Ford and Volkswagen, at 36% and 43% respectively.

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💬 Quote of the day

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– Groucho Marx (an American comedian, actor, and writer)
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🎉 Coming Up In The Next Week…

All events in UK time.

🤑 How To Protect Your Crypto Portfolio During A Recession: 5pm, August 15th
💰 The Secret To Making Money During High Inflation: 1pm, August 16th
💻 How To Spot The Best Tech Stocks: 6pm, August 16th
🤯 Inflation Strategies For Savvy Investors: 12pm, August 18th
☃️ How To Stay Warm In A Crypto Winter: 5pm, August 18th

🥳 And After That…

🏈 Crypto And The Sports Community: 5pm, August 23rd
👑 How To Invest In Gold On The Blockchain: 5pm, August 25th
😎 How To Spot The Next Ethereum Killer: 1pm, August 30th
🧬 How To Profit From The Genomics Revolution: 5pm, August 30th
🎉 How To Build Wealth In Your 20s: 5pm, September 1st

🎯 On Our Radar

  1. Get a taste of surrealism. Coke’s new “dream” flavor is a step too far.
  2. Bored of Tinder after ten dates? Try ten years.
  3. Peace, please. You can finally secretly leave that annoying WhatsApp group.
  4. Building schools is hard. Printing them is easy.
  5. You can be more like Brad Pitt. Just chill out.
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