Dana White On How UFC Landed Its Blockbuster $7.7 Billion Streaming Deal With Paramounthttps://t.co/hdoknrRl19 https://t.co/2Hlqfx2hcW ...

Key Takeaways The Nasdaq's northbound journey continues, with tech stocks fueling the broader market rally over the past few weeks. The Dow, the S&P 500 and the Nasdaq have hit multiple all-time closing highs over the past month. On Friday, the Nasdaq hit a fresh all-time closing high for the second-straight day. The tech rally is being powered by several positive developments, including massive investments by tech behemoths in the domestic arena and the ongoing enthusiasm surrounding artificial intelligenc ...

Core Viewpoint - Trump Media and Technology Group Corp. has filed an amendment to the registration statement for the Truth Social Bitcoin ETF, which aims to directly hold Bitcoin and reflect its price performance [2][3]. Group 1: ETF Details - The Truth Social Bitcoin ETF will be custodied by Crypto.com, which will also serve as the prime execution agent and liquidity provider [3]. - The ETF's shares will be listed on NYSE Arca upon the effectiveness of the registration statement and SEC approval [3]. Group 2: Company Overview - Trump Media operates the social media platform Truth Social, the streaming service Truth+, and the FinTech brand Truth.Fi, focusing on free speech and family-friendly content [5]. - The company aims to provide investment vehicles that align with an "America First" strategy through its financial services [5].

Core Insights - Warner Bros. Discovery (WBD) reported Q2 2025 earnings of 63 cents per share, exceeding the Zacks Consensus Estimate of a loss of 16 cents, compared to a loss of $4.07 per share in the same quarter last year [1][9] - Revenues increased by 1% year over year to $9.81 billion, slightly missing the Zacks Consensus Estimate by 0.15% [1] - The company ended Q2 2025 with 125.7 million global subscribers, an increase of 3.4 million sequentially [3][4] Revenue Breakdown - Advertising revenues decreased by 10% excluding foreign exchange, primarily due to declines in domestic linear audiences [2] - Distribution revenues remained relatively unchanged, with growth in global streaming subscribers offset by declines in domestic linear pay TV subscribers [2] - Content revenues increased by 16% excluding foreign exchange, driven by higher box office revenues from theatrical releases [2] - Other revenues declined by 19% year over year, impacted by separation-related costs [2] Segment Performance - Streaming segment revenues reached $2.8 billion, up 9% year over year, with subscriber revenues growing by 10% to $2.7 billion [5] - The Studios segment reported revenues of $3.8 billion, a 55% increase year over year, with profits rising to $863 million from $210 million a year ago [6] - Global Linear Networks revenues decreased by 9% year over year to $4.8 billion, with advertising revenues plunging by 12% [7] Financial Position - WBD ended Q2 2025 with $35.6 billion in gross debt and a net leverage ratio of 3.3x [11] - The company reduced gross debt by $2.7 billion during the quarter, including a $1.5 billion term loan repayment [10][11] - Cash and cash equivalents increased to $4.88 billion from $3.89 billion as of March 31, 2025 [11] Future Guidance - WBD targets at least 150 million streaming subscribers by the end of 2026 and anticipates a profit of approximately $1.3 billion from the streaming segment in 2025 [13] - The Studios segment is expected to return to $3 billion in EBITDA, driven by successful content releases [13]

Core Insights - The Walt Disney Company reported third-quarter fiscal 2025 results, beating earnings estimates but missing revenue expectations, leading to a nearly 3% drop in shares [1] - Disney announced a strategic acquisition of key assets from the National Football League, which is expected to impact ETFs heavily invested in the company [2][7] Earnings Performance - Earnings per share reached $1.61, surpassing the Zacks Consensus Estimate of $1.46, and reflecting a 15.8% increase year-over-year [3] - Revenues increased by 2.1% year-over-year to $23.6 billion, but fell short of the Zacks Consensus Estimate of $23.67 billion [3] Streaming Business Growth - The streaming segment showed continued growth, with Disney+ and Hulu adding 183 million subscriptions, an increase of 2.6 million from fiscal Q2 [4] - Disney+ alone gained 128 million subscribers, up 1.8 million from fiscal Q2 [4] - The company anticipates over 10 million new subscriptions for Disney+ and Hulu in the ongoing fiscal fourth quarter, primarily driven by Hulu's expanded Charter deal [5] Strategic Initiatives - Disney is confident in its strategic initiatives, including the integration of Hulu into Disney+ and global expansion of its parks and experiences, aiming for sustained growth [6] - The full-year earnings forecast was raised to $5.85 per share from $5.75, indicating an 18% year-over-year growth in earnings [6] NFL Acquisition Details - Disney's ESPN will acquire NFL Network, NFL RedZone, and NFL Fantasy in exchange for a 10% equity stake in ESPN, marking a significant shift in sports media [7] - ESPN will fully integrate NFL Network into its new direct-to-consumer streaming service, launching at $29.99 per month [8] - The deal includes airing three additional regular-season NFL games per year on NFL Network and streaming the 2026 Super Bowl on Disney+ for the first time [9] ETFs Impacted - Several ETFs with significant allocations to Disney include Vanguard Communication Services ETF (VOX), Communication Services Select Sector SPDR Fund (XLC), Fidelity MSCI Communication Services Index ETF (FCOM), Invesco S&P 500 Equal Weight Communication Services ETF (RSPC), and First Trust S-Network Streaming & Gaming ETF (BNGE) [2][10][11][12][13][14]

Core Insights - Walt Disney reported Q3 FY2025 results with adjusted EPS of $1.61, exceeding analyst expectations of $1.45, while GAAP revenue was $23.7 billion, slightly below consensus by 0.18% [1][2] - The company experienced an 8% increase in total segment operating income to $4.6 billion, driven by a profitable shift in Direct-to-Consumer streaming and strong performance in the Experiences segment, despite challenges in legacy Entertainment operations [1][4] Financial Performance - Adjusted EPS (Non-GAAP) reached $1.61, a 16% increase year-over-year from $1.39 [2] - GAAP EPS was reported at $2.92, more than doubling from $1.43 in Q3 2024 [2] - Revenue (GAAP) increased by 2.2% year-over-year to $23.7 billion, compared to $23.2 billion in Q3 2024 [2] - Total segment operating income (Non-GAAP) rose to $4.6 billion, up 10% from $4.2 billion [2] - Free cash flow (Non-GAAP) increased by 58% to $1.9 billion, up from $1.2 billion [2] Subscriber and Streaming Insights - Disney+ subscribers reached 127.8 million, a 1.0% sequential increase, with international subscribers rising by 2% [5] - Hulu subscriptions grew to 55.5 million, contributing to overall streaming growth [5] - Average revenue per user (ARPU) for Disney+ remained flat in the U.S. at $8.09, with slight increases internationally [5] - The company anticipates further growth from a Charter deal expected to boost Hulu subscriptions in Q4 FY2025 [6] Experiences Segment Performance - The Experiences segment saw operating income rise to $2.5 billion, up 13% year-over-year, with domestic parks delivering $1.65 billion in operating income, a 22% increase [7] - Revenue from domestic parks reached $6.4 billion, supported by cruise line expansion and the launch of the Disney Treasure ship [7] - International parks faced a 3% decline in operating income due to lower attendance and increased costs at Shanghai Disney Resort and Hong Kong Disneyland Resort [7] Strategic Initiatives - The company is focusing on improving streaming profitability and expanding park experiences, including integrating Hulu with Disney+ and investing in new park attractions [4] - Disney plans to commit over $30 billion to expand existing parks in Florida and California, emphasizing quality and guest experience [8] - The company is recalibrating its film production strategy to enhance the quality of major properties, particularly Marvel films [10] Entertainment Segment Challenges - Operating income in the Entertainment segment declined by 15% to $1.02 billion (Non-GAAP), impacted by lower results in Content Sales/Licensing and Linear Networks [9] - Linear networks experienced a 28% decrease in operating income due to declining subscriber numbers and weaker advertising rates [9] Sports Programming Performance - Sports programming, anchored by ESPN and ESPN+, reported segment operating income of $1.0 billion, up 29% year-over-year, aided by the removal of losses from the Star India business [11] - ESPN faced a 7% decline in domestic operating income due to rising programming costs, while ARPU for ESPN+ declined by 3% to $6.40 [11] Company Outlook - Management updated guidance for FY2025, forecasting adjusted EPS of $5.85, an 18% increase from the prior year [13] - The company expects $1.3 billion in Direct-to-Consumer operating income and over 10 million new streaming subscriptions in Q4 FY2025 [13] - The Experiences segment is projected to deliver 8% operating income growth, while Sports targets 18% growth [13]

Group 1 - Stingray Group Inc. held its annual general meeting of shareholders virtually, where ten nominees were elected as directors with overwhelming support [1] - The voting results showed that all nominees received over 99% approval, indicating strong shareholder confidence [1] - The nominee with the highest approval was The Honourable Jean Charest, receiving 99.99% of votes in favor [1] Group 2 - Stingray Group Inc. is a global leader in music, media, and technology, providing a wide range of services including TV broadcasting, streaming, and advertising [2] - The company operates 97 radio stations and offers various digital services, reaching 540 million consumers across 160 countries [2] - Stingray Business division focuses on commercial solutions such as in-store advertising and digital signage, while Stingray Advertising is the largest retail audio advertising network in North America [2]

Core Insights - Walt Disney reported better-than-expected quarterly results and raised its annual profit forecast, driven by growth in its streaming business, which is central to its future strategy [1][5] - The company entered significant deals with the NFL and WWE to enhance its ESPN streaming service, priced at $29.99 per month, providing access to major sporting events [1][4] Financial Performance - Adjusted earnings per share increased by 16% year-over-year to $1.61, surpassing analyst expectations of $1.47 [2] - For the fiscal year ending in September, Disney projected adjusted EPS of $5.85, a 10-cent increase from previous forecasts [5] Streaming Business Growth - Disney+ and Hulu subscriptions rose by 2.6 million to 183 million, contributing to a 6% revenue increase in the direct-to-consumer segment, which reported an operating income of $346 million, a significant improvement from a loss of $19 million a year ago [8] - The company anticipates adding 10 million Disney+ and Hulu subscribers in the current quarter, primarily through an expanded partnership with Charter [7] Theme Parks and Other Segments - The parks division saw a 13% increase in operating income to $2.5 billion, with domestic parks profits rising by 22% despite new competition from Universal's Epic Universe [9] - Walt Disney World in Orlando achieved record revenue for the quarter [10] Sports Unit Performance - The sports unit's operating income increased by 29% to $1 billion, although domestic ESPN profit fell by 3% due to higher programming and production costs [10]

New Service Offering - Roku launched a new ad-free subscription video service for its streaming box and TV owners [1] - The new service is priced lower than many competing on-demand streaming services [1]

Financial Performance - Fox Corporation reported a revenue growth of 17% to $16 billion, with adjusted EBITDA growth of 26% to $3.6 billion and adjusted EPS growth of 39% to $4.78 per share, all records for the company [6][16][18] - Free cash flow increased by 100% to $3 billion, marking another record [6][16] - Net income attributable to stockholders was $2.3 billion or $4.91 per share, up from $1.5 billion or $3.13 per share in the previous fiscal year [18] Business Segment Performance - The Cable Network programming segment achieved 7% revenue growth and 6% EBITDA growth, with cable advertising revenues up 15% [20] - The Television segment delivered 6% revenue growth, with advertising revenues growing 3% [21] - Tubi saw a 32% revenue growth in the fourth quarter, driven by a 17% increase in total view time [12][19] Market Trends - Fox News maintained over 60% share of the cable news audience, with total day audience up 25% and demo audience up 31% [8][42] - The overall advertising market for Fox remains healthy, with record-setting double-digit volume growth and strong pricing growth across the portfolio [7][74] - Tubi reached over 100 million monthly active users and generated over $1.1 billion in revenue, achieving a 2.2% share of total U.S. television viewings [12][13] Company Strategy and Industry Competition - Fox One, a direct-to-consumer streaming platform, is set to launch at $19.99 per month, targeting both cordless consumers and current pay TV subscribers [11][12] - The company plans to invest in digital-led growth initiatives, including Tubi and Latin America, while maintaining a focus on organic growth [23][66] - Fox's strategy emphasizes engaging viewers across various platforms, including traditional cable and digital offerings [14] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the trajectory of the business, citing strong operational and financial momentum entering fiscal 2026 [15] - The company anticipates challenges in fiscal 2026 due to the absence of political advertising and the Super Bowl, but expects strong performance from the FIFA Men's World Cup [36][75] - Management highlighted the importance of maintaining strong relationships with affiliates and local stations, especially with the launch of Fox One [85] Other Important Information - The company announced a $5 billion increase to its share repurchase authorization, reflecting a strong balance sheet [15][26] - Fox's advertising revenue growth was driven by a robust demand for sports programming and political advertising [17][74] Q&A Session Summary Question: Insights on fiscal 2026 expectations - Management acknowledged the challenges ahead, particularly with political advertising and the Super Bowl, but emphasized strong underlying business momentum [31][34] Question: Update on cable advertising trends - Management reported strong advertising demand, particularly for Fox News, with significant increases in ratings translating to revenue growth [41][42] Question: Tubi's competitive position - Tubi is outperforming the broader CTV market due to its extensive content library and strong engagement with a younger, cordless audience [50][52] Question: M&A participation - Management stated that while they are always looking for opportunities, they have not found any that meet their high internal benchmarks for capital use [71][72]