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Disney Poised for Comeback Due to Brand and Streaming, says SteelHouse CEO
Also current consumer trends give insight into how the public is coping with the crisis
Disney Poised for Comeback, Consumers Still Spending
Disney’s stock may be way off its all time high, but it’s due to bounce back says SteelHouse CEO Mark Douglas. That’s thanks to the strength of its brand, as well as its pivot to streaming. “Disney+ is doing really well, obviously the big part of Disney is movies and theme parks,” said Douglas, “But when we come out of this crisis, they have such a strong fanbase for their theme parks, you’re seeing online that people are saying that’s their first destination. And on the movie side, you’re going to see a big shift to streaming for their movies, and away from theaters.”
Disney’s fortunes look to improve once we see the beginning of the end of the current crisis, but what about consumers’ current behavior? As it turns out, consumer behavior has acted as a bit of a window into how people are coping with the crisis.
“The first week was all about stocking up,” said Douglas. “The second week after the crisis started (considered March 13th, the day after travel from Europe was stopped) it was all about entertainment, the third week shows there’s a new category of consumer out there that feels financially secure, they’re buying luxury goods, they’re buying furniture. Essentially during this crisis, everyday is Black Friday for the consumers that have the income.”