Revenue and EBITDA came in ahead, and we reiterate our narrow moat rating and are raising our fair value estimate.
Both media firms focus on unscripted content, but it is unclear if a combined firm would have more success in being carried on new pay-TV platforms.
Subscriber growth remains strong, but the content investments to attract users are weighing on cash flow.
The streaming giant added more customers than expected, but free cash flow burn continues to accelerate.
The first three over-the-top pay-television providers have surpassed more than 3 million subscribers--and that's without any impact yet from YouTube TV or Hulu with Live TV.
Activision Blizzard, Ubisoft, and Take-Two also have potential in plans to expand and reinvigorate franchises.
The company's scripted programming has garnered Emmy awards and high ratings.
Exposure to international pay television and inclusion in new streaming video services makes wide-moat Twenty-First Century Fox attractive today.
While the quarter was disappointing for the wide-moat firm, we are encouraged by the continued strength of the domestic cable business.
The slight acceleration in sub losses in the quarter, particularly when combined with the inability of the narrow-moat firm to gain carriage in either Hulu or YouTube OTT television packages, is troublesome.
While media networks continue to suffer due to weaker-than-expected advertising revenue and subscriber losses, the parks business expanded with Shanghai driving growth.
The narrow-moat company got off to a strong start this year and expects the launches of Destiny 2 and the next Call of Duty game to boost results later this year.
Digital offerings to beat our expectations, but the stock is trading in 3-star territory, and we would wait for a larger margin of safety.
The video streaming firm fell short of its subscriber guidance and we think continued investment in content will pressure margins over time.
If the wide-moat company gains any significant traction, expect the four major carriers to improve the relative attractiveness of their offerings.
We are maintaining our fair value estimate as Iger agrees to stay on at the wide-moat firm until July 2019.
Analyst Neil Macker sees challenges to Netflix's valuation, and says Disney and Fox may be better alternatives for investors.
Theatrical revenue growth and subscription revenue growth propelled results for the wide-moat entertainment giant.
The media conglomerate posted mixed results, but we're maintaining our wide-moat rating.
The wide-moat firm has reinvigorated its television studios in the U.S. and abroad.
We are raising our fair value estimate, but we still view Comcast shares as currently slightly overvalued.
The firm ended 2016 on a high note, but the stock is trading well above our fair value estimate and uncertainty remains very high.
Dominant cable networks and branded franchises give the conglomerate strong pricing power.
Trading in the high $30 range, the stock is very attractive, though investors should be prepared for a bumpy ride, particularly since the firm may be beginning a multiyear turnaround effort.
While Twenty-First Century Fox appears to be paying a reasonable price for Sky, we're not wowed by the potential acquisition of a satellite operator at a time when content distribution is increasingly moving online.
Sadly, AT&T didn't choose to seriously shake up the industry, but the addition of another large distributor in the over-the-top content space will help to raise awareness and to grow the overall subscriber base.
We plan to maintain our wide moat rating and our fair value estimate of $134 per share.
We believe the proposal is a very good deal for Time Warner and are raising our fair value estimate to $107 to match the deal price.
Forget set-top boxes. Innovation and upstart companies are changing the way viewers consume television programming and feature films.
The firm beat its own low guidance in the third quarter, but we think investors should remain cautious given slowing U.S. growth and upcoming content investments.
With the shares trading in the mid-$30 range, the stock is very attractive, though investors should be prepared for a bumpy ride.
Strong studio results and a new $1 billion live streaming investment underscore the Mouse’s wide-moat rating and our $134 fair value estimate.
Strong studio results and a new $1 billion live steaming investment underscore the Mouse's wide-moat rating and our $134 fair value estimate.
The slowdown in new U.S. subscriber adds after the recent price hike may suggest the firm has less pricing power than expected.
Recent developments strengthen our belief in the viability of the television bundle.
Several headwinds led to Disney missing analyst estimates, opening up an opportunity for long-term investors.
Plus, a new share class will give the founder control of this wide-moat firm for as long as he wants, writes Morningstar’s Neil Macker.
Despite the slide in share price, a lack of signs that the social network can reach mass market status means investors are likely better off waiting on the sidelines.
Google parent Alphabet fell short of expectations in the first-quarter, but we are maintaining our wide-moat rating and fair value estimate as mobile should continue to drive the firm, writes Morningstar’s Neil Macker.
Despite low guidance for net new subscribers in the second quarter, we retain our narrow-moat rating and fair value estimate on the company, says Morningstar's Neil Macker.
We think the stock is undervalued after disappointing quarterly results.
Weakness in media networks has created a buying opportunity for shares of the wide-moat firm, writes Morningstar's Neil Macker.
The professional networking site’s shares tumbled on poor 2016 guidance, but that doesn’t mean they are a good value today, writes Morningstar’s Neil Macker.
Google drove solid revenue growth even if operating income fell short of our expectations, writes Morningstar’s Neil Macker.
We’re planning on modestly increasing our Netflix fair value to account for faster international expansion.
Long-term success will require producing a variety of programming across multiple sectors, a strong portfolio of network brands, lower exposure to advertising revenue, and more exposure to international markets.
The media giant's quarterly results came in ahead of expectations, while Star Wars and the new Shanghai resort loom as long-term catalysts for growth, says Morningstar's Neil Macker.
While the purchase of King may be positive financially in the short term, we are worried about the long-run opportunity cost of using $5.9 billion to purchase a one-franchise mobile developer.
The market is punishing Netflix for coming up short on U.S. customer growth, but that hasn't created a buying opportunity, says Morningstar's Neil Macker.
The House of Mouse should continue to generate long-term growth from ESPN, Star Wars, and its new Shanghai resort.