We Study Billionaires - The Investor’s Podcast Network TIP277: Intrinsic Value Assessment of Disney - w/ David Trainer (Business Podcast)
Jan 12, 2020
David Trainer, the founder and CEO of New Constructs, shares his expertise in assessing Disney's intrinsic value, emphasizing the significance of understanding financial strategies and market dynamics. He discusses Disney's competitive edge, particularly its ability to charge premium prices for unique experiences and the success of Disney+ in attracting subscribers. Alongside Sean Murray, the conversation also touches on democratizing financial research and the challenges faced by aspiring fund managers, blending investment insights with personal development.
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Disney's Segment Profitability
- Disney's parks division profitability is inconsistent due to high capital intensity.
- Their other segments, however, have historically maintained consistent profitability.
Disney+ as a Natural Transition
- Disney+ is a natural extension of Disney's existing content library.
- Streaming is not difficult, and Disney+ subscriber growth has been impressive.
Disney+ as a Customer Acquisition Tool
- Disney+ might not be hugely profitable initially, but it effectively onboards customers into the Disney ecosystem.
- It drives demand for parks, merchandise, and other Disney offerings.
