Walt Disney said on Wednesday it had reached a deal with Sony Pictures to bring new “Spider-Man” movies and other films to Disney’s streaming services and TV networks in the United States after they play on Netflix.
Disney also secured rights to offer older Sony films, including “Jumanji” and “Hotel Transylvania,” much sooner.
The company said it will add a significant number of Sony titles to Hulu starting in June.
This is a very positive news for Disney. It is spending more on contents to take on Netflix. As the economy reopening, Disney will be a better bet compared to Netflix due to it theme parks and studio businesses. The stock is trading near 1 month low, it is a good opportunity to buy some shares around $180.
What are your thoughts on $DIS? Bullish or Bearish?
Stocks mentioned in this post:
Disney: $DIS
Netflix: $NFLX