Mulan Leads to Many Downloads and Oracle Looks to Flip Script After Bad Week
Yesterday we discussed how the streaming release of “Mulan” could change the movie industry. While Disney has not shared any news on the performance of the film itself, downloads of its streaming service app, Disney+, rose 68% over the weekend. The film’s release directly on the platform not only brought in revenue but also drew new customers to the service.
This will likely become a common strategy for Disney and its competitors, and the losers will be traditional theaters. They will have to find new ways to draw consumers out of the safety and comfort of their homes.
Oracle’s stock is down nearly 6% from its closing price last Wednesday as it was caught in the big tech selloff. However, there are a few things on the horizon that could flip the recent narrative. Oracle reports its earnings on Wednesday, and many analysts are expecting strong performance. The COVID-19 pandemic forced many businesses to use work from home technology, and Oracle Cloud Infrastructure services used by companies like Zoom have led to growth.
The main reason Oracle has been in the news recently has been its desire to acquire U.S. operations of TikTok. However, talks have stalled due to disagreements about which aspects of the company and its intellectual property an American buyer would purchase. President Donald Trump initially set a September 15 deadline to get a deal done for TikTok before it gets banned, but this is unlikely to be met due to the recent disagreements. We will see if Trump follows through on his promise or gives American companies more time to find an agreement.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.