Specialist
Former Head, Amazon Studios at Amazon.com Inc
Agenda
- Streaming platforms operating environment, pinpointing shifts in content distribution strategy
- Competitive dynamics among Walt Disney (NYSE: DIS), Netflix (NASDAQ: NFLX), AT&T (NYSE: T), Amazon (NASDAQ: AMZN) and others, focusing on original content investments
- International expansion for over-the-top (OTT) streaming across main players
- 2019 outlook and beyond – potential winners and losers
Questions
1.
What is your industry-wide overview for the streaming industry? Which key trends or drivers should investors be paying attention to most?
2.
With the D2C proliferation that has been occurring, how should we be thinking about the relative inflection point we could expect on MVPD declines? It has been a 4% rate, but would you expect that to be enhanced, especially with all the new services coming online?
3.
Who might have more exposure to second-run deals moving forward? Is Netflix at greater risk given that incumbents are going to eventually pull popular content? Perhaps Disney has the dilemma of when it pulls content and potential exposure from reaching breakeven?
4.
How do you think terminal margins are going to shift for a business such as Netflix vs Disney? Either with or without ancillary revenue streams such as licensing, and depending on what sub size ends up panning out?
5.
How should we benchmark Netflix’s consumer licensing opportunity relative to Disney, given the IP differences?
6.
How should we expect streaming platforms to incorporate the likes of sports, news and other live content? You commented on NFL but how do you expect content strategy to evolve more broadly, as content costs continue to increase?
7.
How do you assess the difference between the ability to spend on original content vs the ability to drive up value per dollar?
8.
What are some of your thoughts around Fox’s strategy, what are your expectations? It seems that Fox has been anchored today to milking the bundle – do you expect the bundle to break at some point? What does that mean for a Fox or a Sinclair?
9.
What are the relative opportunities for international expansion for some of the main streaming players? What are the differences in what to expect from Netflix, Amazon and Disney with Hulu included?
10.
How do you expect the WarnerMedia OTT service to offset falling ARPU at HBO? What would the new NFL content rights mean for AT&T specifically with Sunday Ticket?
11.
Do you have any closing remarks to tie up our discussion on the streaming industry?
Gain access to Premium Content
Submit your details to access up to 5 Forum Transcripts or to request a complimentary 48 hour week trial
The information, material and content contained in this transcript (“Content”) is for information purposes only and does not constitute advice of any type or a trade recommendation and should not form the basis of any investment decision.This transcript has been edited by Third Bridge for ease of reading. Third Bridge Group Limited and its affiliates (together “Third Bridge”) make no representation and accept no liability for the Contentor for any errors, omissions or inaccuracies in respect of it. The views of the specialist expressed in the Content are those of the specialist and they are not endorsed by, nor do they represent the opinion of, Third Bridge. Third Bridge reserves all copyright, intellectual and other property rights in the Content. Any modification, reformatting, copying, displaying, distributing, transmitting, publishing, licensing, creating derivative works from, transferring or selling any Content is strictly prohibited
