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Loeb, founder of Third Point hedge fund<\/a>, made his pitch in a letter to Disney chief executive Bob Chapek and the board of directors.
Loeb reasoned that skipping a few dollars per share in dividends, the entertainment giant could use the money to more than double its budget for content at Disney+ streaming service.
\"Disney has built one of the largest streaming platforms in the world, already within the original 5-year Disney+ subscriber target range of 60-90 million,\" Loeb said in the letter, a copy of which was obtained by AFP.
\"To further capitalize on this transformational opportunity, we believe the company should permanently suspend its $3 billion annual dividend and redirect this capital entirely into content production and acquisition for Disney's direct-to-consumer businesses, centered around Disney+.\"
Investing in streaming content instead of paying dividends promises to attract and keep more subscribers; boost time spent watching, and help the company keep pricing competitive, according to Loeb.
Third Point reportedly owned about 5.5 million shares valued at more than $600 million at the end of June.
Disney flung open its vast archive with the arrival of its television streaming service in November.
It competes with Netflix, Apple and Amazon by leveraging its huge catalogue of Disney classics along with its Pixar, Marvel and National Geographic movies -- not to mention its wildly successful \"Star Wars\" franchise.
Like its competition, Disney invests in original content available only to subscribers.
\"With Disney's superior tent-pole franchises and production capabilities, we believe that the company can exceed the subscriber base of the industry<\/a> leader, Netflix, in just a few years,\" Third Point said in the letter.
\"But time is of the essence and the company should consider significant additional investments in content both through production and acquisitions here and abroad.\"
The pandemic's hit on lifestyles has more people streaming films and television at home, benefitting Disney+ but taking a toll on Disney theme parks and travel businesses.
Disney last week announced plans to cut 28,000 jobs from its US theme parks division, singling out California restrictions that have prevented the giant Disneyland<\/a> resort from reopening due to the coronavirus crisis.
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Loeb,第三点的创始人对冲基金,使他在一封给迪斯尼首席执行官鲍勃•伯克和董事会。
Loeb推断跳过几美元的股息,每股娱乐巨头可以使用这笔钱来两倍多的预算内容在迪斯尼+流媒体服务。
“迪斯尼建造了世界上最大的流媒体平台之一,已经在最初的5年迪斯尼+ 60 - 90的用户目标区间,”勒布在信中表示,由法新社获得的副本。
“进一步利用这一转型机遇,我们认为公司应该永久暂停其30亿美元的年度股息和资本完全重定向到内容生产和收购对迪斯尼的客户直销企业,围绕迪士尼+”。
投资于流媒体内容,而不是支付红利承诺吸引和留住更多的用户;提高时间看,帮助公司保持价格竞争力,根据罗卜。
第三点据说拥有约550万股价值超过6亿美元在6月底。
迪斯尼敞开其庞大的档案和电视流媒体服务在11月的到来。
它与Netflix竞争,苹果和亚马逊利用其巨大的迪士尼经典目录连同皮克斯,奇迹和国家地理电影——更不用提其非常成功的“星球大战”系列。
和它竞争,迪斯尼投资原创内容只提供给用户。
“迪斯尼的优越的帐篷杆特许经营和生产能力,我们相信公司可以超过的用户基础行业领袖,Netflix,在短短几年中,“第三点在信中说。
”,但时间是最关键的,公司应该考虑大量额外的投资内容都通过生产和收购国内还是国外。”
大流行对生活方式的冲击,越来越多的人在家流媒体电影和电视,获益迪斯尼+,但严重影响了迪斯尼主题公园和旅游企业。
迪斯尼上周宣布计划裁员28000人的美国主题公园,挑出加州限制阻止了巨人迪斯尼乐园度假村从重开由于冠状病毒危机。
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