5 Lessons From Q3 Earnings in Entertainment and Tech, From Teflon Facebook to Disney’s Streaming Onslaught
With the third quarter earning season officially wrapped up, it’s time to take a step back and see how major entertainment and tech companies held up at a time of transition. For many content-based companies, the focus was on distribution — particularly streaming via an ever-growing number of services that each threaten to encroach on the dominant company in the space, Netflix. And for tech companies, the threat of regulatory intervention seems to have taken a backseat to the challenges of bottom-line issues like revenue and growth. Here are 5 takeaways from Q3 that stood out: 1. Wall Street Isn’t Sweating Looming Threats to Big Tech When it comes to big tech, Wall Street only cares about two things: money and growth. Regulatory concerns, it seems, are ancillary. That was reinforced this earnings season, with Facebook being the most obvious example. Mark Zuckerberg’s social network has been skewered on multiple fronts in the last few months — including a slew of antitrust probes, a $5 billion settlement with the Federal Trade Commission to cover data security breaches and a widely criticized public decision to not fact check political ads. Still, Facebook has remained largely impervious to the noise, with the...
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