Netflix stands to benefit from the dual strikes underway in Hollywood while competitors like Disney and Apple will get “weaker,” in part because of the streamer’s vast international production pipeline, a top media-stocks analyst said Wednesday on the brink of earnings season.
“The strike plays to their advantage,” Michael Nathanson, founding partner of Svb MoffettNathanson, said on CNBC’s “Squawk Box.” “I’ve not been a Netflix bull, but their setup for this quarter and the next 12 months is incredibly strong.”
Co-host Andrew Ross-Sorkin seized on that notion, seeking to clarify whether Nathanson meant Netflix would get stronger merely relative to its competition – or if it could help the streamer overall. The answer seemed to be: a bit of both.
“I think relative, clearly, right?” Nathanson said. “You had (Disney CEO) Bob Iger on air last week – I’ve never heard him sound so bearish. The backdrop for traditional media is really tough.
“The strike plays to their advantage,” Michael Nathanson, founding partner of Svb MoffettNathanson, said on CNBC’s “Squawk Box.” “I’ve not been a Netflix bull, but their setup for this quarter and the next 12 months is incredibly strong.”
Co-host Andrew Ross-Sorkin seized on that notion, seeking to clarify whether Nathanson meant Netflix would get stronger merely relative to its competition – or if it could help the streamer overall. The answer seemed to be: a bit of both.
“I think relative, clearly, right?” Nathanson said. “You had (Disney CEO) Bob Iger on air last week – I’ve never heard him sound so bearish. The backdrop for traditional media is really tough.
- 7/19/2023
- by Josh Dickey
- The Wrap
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