'Cancel Disney Plus,' 'Cancel Hulu' Become Trending Topics After Elon Musk Battle With Media Company: Should Disney Be Worried?
Portfolio Pulse from Chris Katje
The Walt Disney Company (NYSE:DIS) faces potential backlash after suspending advertising on Twitter due to Elon Musk's interaction with an antisemitic post. Disney CEO Bob Iger defended the decision, while Musk criticized companies withdrawing ads. The controversy has led to trending calls to cancel Disney Plus and Hulu subscriptions, with a significant number of respondents in a poll indicating intent to cancel. This comes as Disney+ faces a December with fewer new releases and less holiday-themed content, which could impact Q1 streaming figures. Disney shares closed slightly lower on Friday.
December 01, 2023 | 9:56 pm
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Disney's decision to suspend advertising on Twitter and the subsequent public backlash, including calls to cancel Disney Plus and Hulu subscriptions, could negatively impact the company's streaming service subscriber numbers and potentially its stock price in the short term.
The public controversy and trending calls for subscription cancellations, combined with a weaker December content lineup, could lead to a decrease in subscriber growth or an increase in churn for Disney Plus. This negative sentiment and potential impact on revenue could lead to short-term bearish sentiment on DIS stock.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90