#creutz

CREUTZ – HUMBOLDT – LÖFFLER – KLEIST * * * Jochen Klepper (1903 – 1942), von heutigen Verfechtern des deutschen Konservatismus zu einem ihrer Stammväter auserkoren, ließ in seinem schriftstellerischem Hauptwerk “Der Vater. Roman eines Königs” eine der bedeutendsten Persönlichkeiten der ersten Jahrzehnte des preußischen Königreiches, Ehrenreich Bougslav von Creutz, vom ersten bis zum letzten…

Analysts cut price targets for Disney and debate the streaming outlook, causing the stock to fall. Disney+ attracted just 2.1 million members in its slowest-growth quarter since its inception two years ago, but one Wall Street analyst thinks "momentum may increase as trust in the content slate rises, similar to the dynamic we witnessed with Netflix." With Disney+ subscriber growth stalling in the most recent quarter, as revealed Wednesday after the stock market close, and earnings falling short of expectations across the board, Walt Disney's stock fell more than 8% in early Thursday trading and is facing a Netflix moment, according to Wall Street experts. That's because, in the first half of 2021, a reduced pipeline of original content and slower subscriber gains following a coronavirus pandemic-fueled 2020 weighed on Netflix's stock until investor and analyst sentiment improved ahead of its third-quarter earnings update, which showed increased momentum. Disney will be trying to reproduce that if it sticks to its longer-term streaming subscriber goal range, which is now a significant focus for investors. Several Wall Street analysts recently lowered their Disney+ projections. After Wednesday's earnings report, Atlantic Equities analyst Hamilton Faber lowered Disney's stock from "overweight" to "neutral" and reduced his price target from $219 to $172, stating that the company's customer reach in areas where Disney+ has debuted was reaching maturity. Others maintained their stock recommendations on Thursday, but noted that investors would need to be patient, and Disney will need to spend more. After all, the entertainment behemoth said that it does not plan to reach its full original content and streaming subscriber growth stride until next year, when new programming and market launches would offer a boost. This should begin to have an effect in the second half of its fiscal year 2022, which began on Oct. 3, with the third calendar-year quarter expected to be the first in which the service will release originals from all of its main brands. It's no surprise, however, that Cowen analyst Doug Creutz summed up the Hollywood behemoth's streaming prognosis on Thursday: "Disney+ subscriber growth projected to remain sluggish until the second part of fiscal 2022." RELATED: Disney+ teaser ‘Hawkeye’ showed Clint Barton’s history MoffettNathanson analyst Michael Nathanson agreed, writing in a Thursday report: "The admission that Disney+ growth will re-accelerate when content spending re-accelerates is consistent with Netflix's recent experience, where the growth slumber created by the pandemic's pull-forward of subscribers was finally shattered by record amounts of new content dropped in the last few months of this year." Guggenheim analyst Michael Morris agreed, saying, "We think momentum may rise as trust in the content slate grows, similar to the dynamic we saw with Netflix in the third quarter." "Fueled by a healthy but delayed content pipeline, management expects net additions in the second half of 2022 to be much higher than in the first half, with the bulk of titles launching in July–September," he said. Morris said that as a consequence of the manufacturing delays, Disney now anticipates fiscal year 2022 to be the highest year of losses for Disney+ rather than fiscal year 2021. Disney+ added only 2.1 million subscribers in the latest period ended on Oct. 2 to reach 118.1 million, its slowest growth quarter since its launch two years ago, but the entertainment conglomerate reiterated its guidance for reaching 230-260 million Disney+ subscribers by the end of fiscal year 2024. Morris also said that this would need more program funding. "Disney intends to boost its prior content spending guidance (formerly $8-9 billion in fiscal 2024) as it invests in additional local and regional programming (340-plus local original programs now in development)," he said. Creutz, on the other hand, raised reservations about the Disney+ content strategy, which some think should involve a greater emphasis on more adult-oriented programming to broaden offers outside Disney's usual fan base. "Management anticipates Disney+ additions in fiscal 2022 to be back half-loaded based on a fiscal fourth-quarter content'surge' (typical of the content pipeline in fiscal 2023 and beyond) and the timing of certain additional regional launches," he said. "We remain doubtful that additional Star Wars/Marvel/animated/family programming will be enough to bring Disney+ up to parity with Netflix."

Analysts cut price targets for Disney and debate the streaming outlook, causing the stock to fall. Disney+ attracted just 2.1 million members in its slowest-growth quarter since its inception two years ago, but one Wall Street analyst thinks "momentum may increase as trust in the content slate rises, similar to the dynamic we witnessed with Netflix." With Disney+ subscriber growth stalling in the most recent quarter, as revealed Wednesday after the stock market close, and earnings falling short of expectations across the board, Walt Disney's stock fell more than 8% in early Thursday trading and is facing a Netflix moment, according to Wall Street experts. That's because, in the first half of 2021, a reduced pipeline of original content and slower subscriber gains following a coronavirus pandemic-fueled 2020 weighed on Netflix's stock until investor and analyst sentiment improved ahead of its third-quarter earnings update, which showed increased momentum. Disney will be trying to reproduce that if it sticks to its longer-term streaming subscriber goal range, which is now a significant focus for investors. Several Wall Street analysts recently lowered their Disney+ projections. After Wednesday's earnings report, Atlantic Equities analyst Hamilton Faber lowered Disney's stock from "overweight" to "neutral" and reduced his price target from $219 to $172, stating that the company's customer reach in areas where Disney+ has debuted was reaching maturity. Others maintained their stock recommendations on Thursday, but noted that investors would need to be patient, and Disney will need to spend more. After all, the entertainment behemoth said that it does not plan to reach its full original content and streaming subscriber growth stride until next year, when new programming and market launches would offer a boost. This should begin to have an effect in the second half of its fiscal year 2022, which began on Oct. 3, with the third calendar-year quarter expected to be the first in which the service will release originals from all of its main brands. It's no surprise, however, that Cowen analyst Doug Creutz summed up the Hollywood behemoth's streaming prognosis on Thursday: "Disney+ subscriber growth projected to remain sluggish until the second part of fiscal 2022." RELATED: Disney+ teaser ‘Hawkeye’ showed Clint Barton’s history MoffettNathanson analyst Michael Nathanson agreed, writing in a Thursday report: "The admission that Disney+ growth will re-accelerate when content spending re-accelerates is consistent with Netflix's recent experience, where the growth slumber created by the pandemic's pull-forward of subscribers was finally shattered by record amounts of new content dropped in the last few months of this year." Guggenheim analyst Michael Morris agreed, saying, "We think momentum may rise as trust in the content slate grows, similar to the dynamic we saw with Netflix in the third quarter." "Fueled by a healthy but delayed content pipeline, management expects net additions in the second half of 2022 to be much higher than in the first half, with the bulk of titles launching in July–September," he said. Morris said that as a consequence of the manufacturing delays, Disney now anticipates fiscal year 2022 to be the highest year of losses for Disney+ rather than fiscal year 2021. Disney+ added only 2.1 million subscribers in the latest period ended on Oct. 2 to reach 118.1 million, its slowest growth quarter since its launch two years ago, but the entertainment conglomerate reiterated its guidance for reaching 230-260 million Disney+ subscribers by the end of fiscal year 2024. Morris also said that this would need more program funding. "Disney intends to boost its prior content spending guidance (formerly $8-9 billion in fiscal 2024) as it invests in additional local and regional programming (340-plus local original programs now in development)," he said. Creutz, on the other hand, raised reservations about the Disney+ content strategy, which some think should involve a greater emphasis on more adult-oriented programming to broaden offers outside Disney's usual fan base. "Management anticipates Disney+ additions in fiscal 2022 to be back half-loaded based on a fiscal fourth-quarter content'surge' (typical of the content pipeline in fiscal 2023 and beyond) and the timing of certain additional regional launches," he said. "We remain doubtful that additional Star Wars/Marvel/animated/family programming will be enough to bring Disney+ up to parity with Netflix."

Analysts cut price targets for Disney and debate the streaming outlook, causing the stock to fall. Disney+ attracted just 2.1 million members in its slowest-growth quarter since its inception two years ago, but one Wall Street analyst thinks "momentum may increase as trust in the content slate rises, similar to the dynamic we witnessed with Netflix." With Disney+ subscriber growth stalling in the most recent quarter, as revealed Wednesday after the stock market close, and earnings falling short of expectations across the board, Walt Disney's stock fell more than 8% in early Thursday trading and is facing a Netflix moment, according to Wall Street experts. That's because, in the first half of 2021, a reduced pipeline of original content and slower subscriber gains following a coronavirus pandemic-fueled 2020 weighed on Netflix's stock until investor and analyst sentiment improved ahead of its third-quarter earnings update, which showed increased momentum. Disney will be trying to reproduce that if it sticks to its longer-term streaming subscriber goal range, which is now a significant focus for investors. Several Wall Street analysts recently lowered their Disney+ projections. After Wednesday's earnings report, Atlantic Equities analyst Hamilton Faber lowered Disney's stock from "overweight" to "neutral" and reduced his price target from $219 to $172, stating that the company's customer reach in areas where Disney+ has debuted was reaching maturity. Others maintained their stock recommendations on Thursday, but noted that investors would need to be patient, and Disney will need to spend more. After all, the entertainment behemoth said that it does not plan to reach its full original content and streaming subscriber growth stride until next year, when new programming and market launches would offer a boost. This should begin to have an effect in the second half of its fiscal year 2022, which began on Oct. 3, with the third calendar-year quarter expected to be the first in which the service will release originals from all of its main brands. It's no surprise, however, that Cowen analyst Doug Creutz summed up the Hollywood behemoth's streaming prognosis on Thursday: "Disney+ subscriber growth projected to remain sluggish until the second part of fiscal 2022." RELATED: Disney+ teaser ‘Hawkeye’ showed Clint Barton’s history MoffettNathanson analyst Michael Nathanson agreed, writing in a Thursday report: "The admission that Disney+ growth will re-accelerate when content spending re-accelerates is consistent with Netflix's recent experience, where the growth slumber created by the pandemic's pull-forward of subscribers was finally shattered by record amounts of new content dropped in the last few months of this year." Guggenheim analyst Michael Morris agreed, saying, "We think momentum may rise as trust in the content slate grows, similar to the dynamic we saw with Netflix in the third quarter." "Fueled by a healthy but delayed content pipeline, management expects net additions in the second half of 2022 to be much higher than in the first half, with the bulk of titles launching in July–September," he said. Morris said that as a consequence of the manufacturing delays, Disney now anticipates fiscal year 2022 to be the highest year of losses for Disney+ rather than fiscal year 2021. Disney+ added only 2.1 million subscribers in the latest period ended on Oct. 2 to reach 118.1 million, its slowest growth quarter since its launch two years ago, but the entertainment conglomerate reiterated its guidance for reaching 230-260 million Disney+ subscribers by the end of fiscal year 2024. Morris also said that this would need more program funding. "Disney intends to boost its prior content spending guidance (formerly $8-9 billion in fiscal 2024) as it invests in additional local and regional programming (340-plus local original programs now in development)," he said. Creutz, on the other hand, raised reservations about the Disney+ content strategy, which some think should involve a greater emphasis on more adult-oriented programming to broaden offers outside Disney's usual fan base. "Management anticipates Disney+ additions in fiscal 2022 to be back half-loaded based on a fiscal fourth-quarter content'surge' (typical of the content pipeline in fiscal 2023 and beyond) and the timing of certain additional regional launches," he said. "We remain doubtful that additional Star Wars/Marvel/animated/family programming will be enough to bring Disney+ up to parity with Netflix."

Analysts cut price targets for Disney and debate the streaming outlook, causing the stock to fall. Disney+ attracted just 2.1 million members in its slowest-growth quarter since its inception two years ago, but one Wall Street analyst thinks "momentum may increase as trust in the content slate rises, similar to the dynamic we witnessed with Netflix." With Disney+ subscriber growth stalling in the most recent quarter, as revealed Wednesday after the stock market close, and earnings falling short of expectations across the board, Walt Disney's stock fell more than 8% in early Thursday trading and is facing a Netflix moment, according to Wall Street experts. That's because, in the first half of 2021, a reduced pipeline of original content and slower subscriber gains following a coronavirus pandemic-fueled 2020 weighed on Netflix's stock until investor and analyst sentiment improved ahead of its third-quarter earnings update, which showed increased momentum. Disney will be trying to reproduce that if it sticks to its longer-term streaming subscriber goal range, which is now a significant focus for investors. Several Wall Street analysts recently lowered their Disney+ projections. After Wednesday's earnings report, Atlantic Equities analyst Hamilton Faber lowered Disney's stock from "overweight" to "neutral" and reduced his price target from $219 to $172, stating that the company's customer reach in areas where Disney+ has debuted was reaching maturity. Others maintained their stock recommendations on Thursday, but noted that investors would need to be patient, and Disney will need to spend more. After all, the entertainment behemoth said that it does not plan to reach its full original content and streaming subscriber growth stride until next year, when new programming and market launches would offer a boost. This should begin to have an effect in the second half of its fiscal year 2022, which began on Oct. 3, with the third calendar-year quarter expected to be the first in which the service will release originals from all of its main brands. It's no surprise, however, that Cowen analyst Doug Creutz summed up the Hollywood behemoth's streaming prognosis on Thursday: "Disney+ subscriber growth projected to remain sluggish until the second part of fiscal 2022." RELATED: Disney+ teaser ‘Hawkeye’ showed Clint Barton’s history MoffettNathanson analyst Michael Nathanson agreed, writing in a Thursday report: "The admission that Disney+ growth will re-accelerate when content spending re-accelerates is consistent with Netflix's recent experience, where the growth slumber created by the pandemic's pull-forward of subscribers was finally shattered by record amounts of new content dropped in the last few months of this year." Guggenheim analyst Michael Morris agreed, saying, "We think momentum may rise as trust in the content slate grows, similar to the dynamic we saw with Netflix in the third quarter." "Fueled by a healthy but delayed content pipeline, management expects net additions in the second half of 2022 to be much higher than in the first half, with the bulk of titles launching in July–September," he said. Morris said that as a consequence of the manufacturing delays, Disney now anticipates fiscal year 2022 to be the highest year of losses for Disney+ rather than fiscal year 2021. Disney+ added only 2.1 million subscribers in the latest period ended on Oct. 2 to reach 118.1 million, its slowest growth quarter since its launch two years ago, but the entertainment conglomerate reiterated its guidance for reaching 230-260 million Disney+ subscribers by the end of fiscal year 2024. Morris also said that this would need more program funding. "Disney intends to boost its prior content spending guidance (formerly $8-9 billion in fiscal 2024) as it invests in additional local and regional programming (340-plus local original programs now in development)," he said. Creutz, on the other hand, raised reservations about the Disney+ content strategy, which some think should involve a greater emphasis on more adult-oriented programming to broaden offers outside Disney's usual fan base. "Management anticipates Disney+ additions in fiscal 2022 to be back half-loaded based on a fiscal fourth-quarter content'surge' (typical of the content pipeline in fiscal 2023 and beyond) and the timing of certain additional regional launches," he said. "We remain doubtful that additional Star Wars/Marvel/animated/family programming will be enough to bring Disney+ up to parity with Netflix."

Analysts cut price targets for Disney and debate the streaming outlook, causing the stock to fall. Disney+ attracted just 2.1 million members in its slowest-growth quarter since its inception two years ago, but one Wall Street analyst thinks "momentum may increase as trust in the content slate rises, similar to the dynamic we witnessed with Netflix." With Disney+ subscriber growth stalling in the most recent quarter, as revealed Wednesday after the stock market close, and earnings falling short of expectations across the board, Walt Disney's stock fell more than 8% in early Thursday trading and is facing a Netflix moment, according to Wall Street experts. That's because, in the first half of 2021, a reduced pipeline of original content and slower subscriber gains following a coronavirus pandemic-fueled 2020 weighed on Netflix's stock until investor and analyst sentiment improved ahead of its third-quarter earnings update, which showed increased momentum. Disney will be trying to reproduce that if it sticks to its longer-term streaming subscriber goal range, which is now a significant focus for investors. Several Wall Street analysts recently lowered their Disney+ projections. After Wednesday's earnings report, Atlantic Equities analyst Hamilton Faber lowered Disney's stock from "overweight" to "neutral" and reduced his price target from $219 to $172, stating that the company's customer reach in areas where Disney+ has debuted was reaching maturity. Others maintained their stock recommendations on Thursday, but noted that investors would need to be patient, and Disney will need to spend more. After all, the entertainment behemoth said that it does not plan to reach its full original content and streaming subscriber growth stride until next year, when new programming and market launches would offer a boost. This should begin to have an effect in the second half of its fiscal year 2022, which began on Oct. 3, with the third calendar-year quarter expected to be the first in which the service will release originals from all of its main brands. It's no surprise, however, that Cowen analyst Doug Creutz summed up the Hollywood behemoth's streaming prognosis on Thursday: "Disney+ subscriber growth projected to remain sluggish until the second part of fiscal 2022." RELATED: Disney+ teaser ‘Hawkeye’ showed Clint Barton’s history MoffettNathanson analyst Michael Nathanson agreed, writing in a Thursday report: "The admission that Disney+ growth will re-accelerate when content spending re-accelerates is consistent with Netflix's recent experience, where the growth slumber created by the pandemic's pull-forward of subscribers was finally shattered by record amounts of new content dropped in the last few months of this year." Guggenheim analyst Michael Morris agreed, saying, "We think momentum may rise as trust in the content slate grows, similar to the dynamic we saw with Netflix in the third quarter." "Fueled by a healthy but delayed content pipeline, management expects net additions in the second half of 2022 to be much higher than in the first half, with the bulk of titles launching in July–September," he said. Morris said that as a consequence of the manufacturing delays, Disney now anticipates fiscal year 2022 to be the highest year of losses for Disney+ rather than fiscal year 2021. Disney+ added only 2.1 million subscribers in the latest period ended on Oct. 2 to reach 118.1 million, its slowest growth quarter since its launch two years ago, but the entertainment conglomerate reiterated its guidance for reaching 230-260 million Disney+ subscribers by the end of fiscal year 2024. Morris also said that this would need more program funding. "Disney intends to boost its prior content spending guidance (formerly $8-9 billion in fiscal 2024) as it invests in additional local and regional programming (340-plus local original programs now in development)," he said. Creutz, on the other hand, raised reservations about the Disney+ content strategy, which some think should involve a greater emphasis on more adult-oriented programming to broaden offers outside Disney's usual fan base. "Management anticipates Disney+ additions in fiscal 2022 to be back half-loaded based on a fiscal fourth-quarter content'surge' (typical of the content pipeline in fiscal 2023 and beyond) and the timing of certain additional regional launches," he said. "We remain doubtful that additional Star Wars/Marvel/animated/family programming will be enough to bring Disney+ up to parity with Netflix."

Analysts cut price targets for Disney and debate the streaming outlook, causing the stock to fall. Disney+ attracted just 2.1 million members in its slowest-growth quarter since its inception two years ago, but one Wall Street analyst thinks "momentum may increase as trust in the content slate rises, similar to the dynamic we witnessed with Netflix." With Disney+ subscriber growth stalling in the most recent quarter, as revealed Wednesday after the stock market close, and earnings falling short of expectations across the board, Walt Disney's stock fell more than 8% in early Thursday trading and is facing a Netflix moment, according to Wall Street experts. That's because, in the first half of 2021, a reduced pipeline of original content and slower subscriber gains following a coronavirus pandemic-fueled 2020 weighed on Netflix's stock until investor and analyst sentiment improved ahead of its third-quarter earnings update, which showed increased momentum. Disney will be trying to reproduce that if it sticks to its longer-term streaming subscriber goal range, which is now a significant focus for investors. Several Wall Street analysts recently lowered their Disney+ projections. After Wednesday's earnings report, Atlantic Equities analyst Hamilton Faber lowered Disney's stock from "overweight" to "neutral" and reduced his price target from $219 to $172, stating that the company's customer reach in areas where Disney+ has debuted was reaching maturity. Others maintained their stock recommendations on Thursday, but noted that investors would need to be patient, and Disney will need to spend more. After all, the entertainment behemoth said that it does not plan to reach its full original content and streaming subscriber growth stride until next year, when new programming and market launches would offer a boost. This should begin to have an effect in the second half of its fiscal year 2022, which began on Oct. 3, with the third calendar-year quarter expected to be the first in which the service will release originals from all of its main brands. It's no surprise, however, that Cowen analyst Doug Creutz summed up the Hollywood behemoth's streaming prognosis on Thursday: "Disney+ subscriber growth projected to remain sluggish until the second part of fiscal 2022." RELATED: Disney+ teaser ‘Hawkeye’ showed Clint Barton’s history MoffettNathanson analyst Michael Nathanson agreed, writing in a Thursday report: "The admission that Disney+ growth will re-accelerate when content spending re-accelerates is consistent with Netflix's recent experience, where the growth slumber created by the pandemic's pull-forward of subscribers was finally shattered by record amounts of new content dropped in the last few months of this year." Guggenheim analyst Michael Morris agreed, saying, "We think momentum may rise as trust in the content slate grows, similar to the dynamic we saw with Netflix in the third quarter." "Fueled by a healthy but delayed content pipeline, management expects net additions in the second half of 2022 to be much higher than in the first half, with the bulk of titles launching in July–September," he said. Morris said that as a consequence of the manufacturing delays, Disney now anticipates fiscal year 2022 to be the highest year of losses for Disney+ rather than fiscal year 2021. Disney+ added only 2.1 million subscribers in the latest period ended on Oct. 2 to reach 118.1 million, its slowest growth quarter since its launch two years ago, but the entertainment conglomerate reiterated its guidance for reaching 230-260 million Disney+ subscribers by the end of fiscal year 2024. Morris also said that this would need more program funding. "Disney intends to boost its prior content spending guidance (formerly $8-9 billion in fiscal 2024) as it invests in additional local and regional programming (340-plus local original programs now in development)," he said. Creutz, on the other hand, raised reservations about the Disney+ content strategy, which some think should involve a greater emphasis on more adult-oriented programming to broaden offers outside Disney's usual fan base. "Management anticipates Disney+ additions in fiscal 2022 to be back half-loaded based on a fiscal fourth-quarter content'surge' (typical of the content pipeline in fiscal 2023 and beyond) and the timing of certain additional regional launches," he said. "We remain doubtful that additional Star Wars/Marvel/animated/family programming will be enough to bring Disney+ up to parity with Netflix."

Analysts cut price targets for Disney and debate the streaming outlook, causing the stock to fall. Disney+ attracted just 2.1 million members in its slowest-growth quarter since its inception two years ago, but one Wall Street analyst thinks "momentum may increase as trust in the content slate rises, similar to the dynamic we witnessed with Netflix." With Disney+ subscriber growth stalling in the most recent quarter, as revealed Wednesday after the stock market close, and earnings falling short of expectations across the board, Walt Disney's stock fell more than 8% in early Thursday trading and is facing a Netflix moment, according to Wall Street experts. That's because, in the first half of 2021, a reduced pipeline of original content and slower subscriber gains following a coronavirus pandemic-fueled 2020 weighed on Netflix's stock until investor and analyst sentiment improved ahead of its third-quarter earnings update, which showed increased momentum. Disney will be trying to reproduce that if it sticks to its longer-term streaming subscriber goal range, which is now a significant focus for investors. Several Wall Street analysts recently lowered their Disney+ projections. After Wednesday's earnings report, Atlantic Equities analyst Hamilton Faber lowered Disney's stock from "overweight" to "neutral" and reduced his price target from $219 to $172, stating that the company's customer reach in areas where Disney+ has debuted was reaching maturity. Others maintained their stock recommendations on Thursday, but noted that investors would need to be patient, and Disney will need to spend more. After all, the entertainment behemoth said that it does not plan to reach its full original content and streaming subscriber growth stride until next year, when new programming and market launches would offer a boost. This should begin to have an effect in the second half of its fiscal year 2022, which began on Oct. 3, with the third calendar-year quarter expected to be the first in which the service will release originals from all of its main brands. It's no surprise, however, that Cowen analyst Doug Creutz summed up the Hollywood behemoth's streaming prognosis on Thursday: "Disney+ subscriber growth projected to remain sluggish until the second part of fiscal 2022." RELATED: Disney+ teaser ‘Hawkeye’ showed Clint Barton’s history MoffettNathanson analyst Michael Nathanson agreed, writing in a Thursday report: "The admission that Disney+ growth will re-accelerate when content spending re-accelerates is consistent with Netflix's recent experience, where the growth slumber created by the pandemic's pull-forward of subscribers was finally shattered by record amounts of new content dropped in the last few months of this year." Guggenheim analyst Michael Morris agreed, saying, "We think momentum may rise as trust in the content slate grows, similar to the dynamic we saw with Netflix in the third quarter." "Fueled by a healthy but delayed content pipeline, management expects net additions in the second half of 2022 to be much higher than in the first half, with the bulk of titles launching in July–September," he said. Morris said that as a consequence of the manufacturing delays, Disney now anticipates fiscal year 2022 to be the highest year of losses for Disney+ rather than fiscal year 2021. Disney+ added only 2.1 million subscribers in the latest period ended on Oct. 2 to reach 118.1 million, its slowest growth quarter since its launch two years ago, but the entertainment conglomerate reiterated its guidance for reaching 230-260 million Disney+ subscribers by the end of fiscal year 2024. Morris also said that this would need more program funding. "Disney intends to boost its prior content spending guidance (formerly $8-9 billion in fiscal 2024) as it invests in additional local and regional programming (340-plus local original programs now in development)," he said. Creutz, on the other hand, raised reservations about the Disney+ content strategy, which some think should involve a greater emphasis on more adult-oriented programming to broaden offers outside Disney's usual fan base. "Management anticipates Disney+ additions in fiscal 2022 to be back half-loaded based on a fiscal fourth-quarter content'surge' (typical of the content pipeline in fiscal 2023 and beyond) and the timing of certain additional regional launches," he said. "We remain doubtful that additional Star Wars/Marvel/animated/family programming will be enough to bring Disney+ up to parity with Netflix."