Disney: Thoughts?

I've held $DIS since 2011 and am considering selling it and deploying my money elsewhere since I don't think there are any real growth prospects for the near to mid term and it will underperform the S&P for the foreseeable future.

  • In person experiences: Theme parks and cruise lines are at capacity. There are plans to add new parks but its hard to see that expanding business more than incrementally. They don't have any more pricing power either. Complaints about the cost of visiting parks are legion.

  • Movies: Disney has been in the movie business for over 80 years. They will continue to have hits like the current Inside Out 2 but I don't see where that is going to grow at all. They have the Star Wars and Marvel franchises but the market for them is pretty much saturated. I grew up reading Marvel comics and saw every Star Wars movie when it was released and even I don't feel a burning need to see any new ones.

  • Streaming: Disney+ just made money for the first time and ESPN+ is still losing. Streaming content in general is due for a consolidation. Disney+ will survive but I'm not sure it will thrive any time soon.

  • Broadcast: Again, stable but no real growth path.

  • Gaming: This is what I know least about but the industry is incredibly competitive.

Anybody have any thoughts? Am I wrong or did I miss something?



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