近日有机构建议华特迪士尼公司考虑彻底退出流媒体业务，回归内容制作与授权模式，称此举有望推动股价上涨约40%。
分析指出，迪士尼在流媒体领域难以与Netflix和YouTube在规模上竞争，其以院线优先的内容发行节奏不足以支撑长期用户留存。与此同时，迪士尼的知识产权价值正在攀升——据相关数据，2020至2025年间无形资产投资年均增长5.5%，快于有形资产的3.2%。
据测算，若迪士尼放弃直接分发、转向纯粹的内容授权模式，年授权收入有望超过150亿美元。仅全球首轮付费授权一项，因迪士尼票房规模是索尼的三倍，预计可贡献近40亿美元年收入，索尼目前每年首轮电影授权收入已超10亿美元。加上二轮授权和片库内容，总授权收入将进一步攀升。
相关机构维持迪士尼“增持”评级，但将目标价从146美元下调至125美元，下调原因包括宏观压力和票房预测调整。受此消息影响，迪士尼股价周一上涨近2%。该股过去五年累计下跌近半，而标普500指数同期涨幅超70%。
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