[Tech] Why BofA Says Disney+ Numbers Are A Positive For Netflix

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CIG News – Why BofA Says Disney+ Numbers Are A Positive For Netflix. News provided by Benzinga Tech, The tech sector is the category of the markets relating to the research & development and/or distribution of technological based services as well as goods.

Following Walt Disney Co's (NYSE: DIS) quarterly results, BofA Securities weighed in the implications of Disney+ performance for Netflix Inc (NASDAQ: NFLX).

The Netflix Analyst

Nat Schindler reiterated a Buy rating on Netflix with a $426 price target.

The Netflix Thesis

Updates on Disney+, the streaming service launched in the U.S. Nov. 12, have a positive read-through for Netflix, Schindler said in a Wednesday note.

Disney+ engagement trails that of Netflix, which reinforces his view that Disney+ is not a substitute, the analyst said.

Disney said its subscribers were watching six to seven hours per week, while on Roku Inc (NASDAQ: ROKU) alone Netflix subscribers are watching nine to 14 hours per week, he said.

Schindler also pointed to Netflix VP Cindy Holland's comments in May; she said the average subscriber was watching two hours per day, suggesting Netflix viewing …

Full story available on Benzinga.com

Source Benzinga

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