Concerns over 'meaningful uncertainty' with Disney's streaming services and theme parks caused investment advisers at KeyBanc to downgrade the entertainment company's stock this week.
also face smaller audiences at theaters, the analysts said, according to CNBC.
The analysts also noted that while demand for sports on cable TV remains high, customers aren’t showing the same willingness to pay for an ESPN streaming service just yet, according to CNBC. Higher theme park attendance at Disneyland during its 100th Anniversary celebration this year was also seen as a "contraction" compared to the attendance at Disney World’s 50th Anniversary celebration from 2021 to earlier this year, and KeyBanc said those realities weren’t included in the company's expectations for the parks.
Nispel predicted a "deceleration of revenue" between the third and fourth quarter despite Disney’s bullish expectations.
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