Axios Pro: Media Deals
May 09, 2022
Axios Pro Exclusive Content

Good morning, Media Deals readers!

😬 Situational awareness: The New York Times swapped out today's Wordle word after discovering last week that the five-letter answer relates to Roe v. Wade.

1 big thing: Another busy earnings week

Illustration of suited hand holding binoculars with negative and positive stock arrows
Illustration: Eniola Odetunde/Axios

The (mostly) final week of media earnings kicks off with IAC and AMC Theatres today and ends with Disney on Wednesday.

Why it matters: Disney's streaming subscriber gains will be closely watched amid a broader Wall Street cooling on that industry's long-term outlook. For AMC, it's a chance for CEO Adam Aron to explain why a theater owner bought a gold mine.

  • Even though it won't factor into the earnings results, AMC will be feeling pretty good about the summer movie season with the $185 million opening for "Doctor Strange in the Multiverse of Madness" over the weekend.

By the numbers: Both have seen their stock prices get hammered since the year began.

  • Disney has lost $46 off its share price and is trading at $110.29, while AMC has seen its shares nearly cut in half, falling to $13.76 a share.

Be smart: During its last quarterly results, Disney+ had stronger than expected growth, which led to a pretty nice stock bump.

Yes, but: The past month has not been kind to Disney, as the Mouse House engaged in a political battle with Florida Gov. Ron DeSantis.

Other earnings we're paying attention to this week:

View archive