Let's talk about Disney+.
Disney's newest streaming platform launched back in November, and the app already has had over 22 million downloads.
Chris Versace, Real Money contributor, and Jacob Sonenshine, TheStreet's markets reporter, joined TheStreet to talk about Netflix (NFLX) - Get Netflix, Inc. (NFLX) Report and Disney (DIS) - Get Walt Disney Company Report.
"I think it's going to take a little time for us to see how that competition [against Netflix] will play out because Apple (AAPL) - Get Apple Inc. (AAPL) Report is still investing in content. It hasn't built that content base yet...Disney has the content backlog, but we haven't seen the big investment in content yet. So to see the competition actually [impact] Netflix on its fundamentals, it would take a little bit of time, but you still want to see a really good Q4 out of Netflix because they've had a couple of quarters this year where they have not added subscribers to estimates," explained Sonenshine.
"I mean clearly [Disney has] had a tremendous run as we were looking for in the Trifecta Portfolio, where we own the shares, and that that's really been predicated upon the news, the excitement and the early metrics for Disney+. And candidly, we think there's a lot more to go. I think we're going to see a resizing of Disney's valuation in a positive way," said Versace.
For more on Disney+ and how a year of blockbusters drove Disney toward a landmark 2020, read the latest on the Real Money Stock of the Day on Real Money.
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