Activist investor Daniel Loeb on Wednesday urged Walt Disney Co. to skip paying an annual dividend and instead pour the $3 billion into hits for its streaming television service.
Loeb, founder of Third Point hedge fund, made his pitch in a letter to Disney chief executive Bob Chapek and the board of directors.
Loeb reasoned that skipping a few dollars per share in dividends, the entertainment giant could use the money to more than double its budget for content at Disney+ streaming service.
“Disney has built one of the largest streaming platforms in the world, already within the original 5-year Disney+ subscriber target range of 60-90 million,” Loeb said in the letter, a copy of which was obtained by AFP.
“To further capitalize on this transformational opportunity, we believe the company should permanently suspend its $3 billion annual dividend and redirect this capital entirely into content production and acquisition for
When Apple launched the Apple TV 4K streaming box and first announced support for 4K and HDR in the iTunes movie store back in 2017, it had managed to sign up most major studios. But there was one holdout in terms of offering its catalog in UltraHD: Disney.
For three years, users in Apple’s ecosystem had to settle for 1080p HD to watch, say, the Marvel movies or Pixar animated films. Today, it looks like that’s changing in the United States, Canada, and the United Kingdom. A plethora of Disney-made films inclusive of numerous Marvel, Star Wars, Pixar, and Walt Disney Studios animated films are available in Apple’s storefront in both 4K and Dolby Vision HDR. They also support Dolby Atmos audio.
Disney Plus rolled out GroupWatch to US subscribers this week, a feature that allows you to watch any show or movie on the service with friends and family, after rolling out to Canada and New Zealand earlier in September.
Disney Plus GroupWatch works a lot like similar features on other services, like Netflix Party and Amazon Prime Video Watch Party. You and up to 6 other people can sync your screens together to watch a show, sending emoji reactions along with the action in real time. Where GroupWatch stands apart is that you don’t need any extra apps to take advantage of it. Any device that can access Disney+, whether it’s through a website on your computer or an app on a phone or streaming device, can join in for a GroupWatch session.
Here’s how it works:
Open up your Disney Plus app or the website and pick out your
There’s been Mulan, a new trailer for The Mandalorian, and some news tidbits for The Falcon and The Winter Soldier. Now it’s WandaVision’s turn in the spotlight, with Marvel releasing a brand new trailer for the show.
Still no official release date though, but according to reports, Disney is still on track for December 2020.