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WALT DISNEY COMPANY (THE)

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Walt Disney : Disney poaches Netflix film executive for streaming service

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06/25/2019 | 05:47pm EDT
FILE PHOTO: The entrance gate to The Walt Disney Co is pictured in Burbank

(Reuters) - Walt Disney Co said on Tuesday it had hired a top executive in Netflix Inc's original film division, Matt Brodlie, to lead international content development for its upcoming family-oriented streaming service called Disney+.

As director of original film at Netflix, Brodlie was responsible for films including "To All the Boys I've Loved Before" and "Ibiza."

He also acquired award-winning movies "Roma" and "Mudbound" for Netflix. "Roma" won three Academy Awards.

In his new role at Disney, Brodlie will determine what content needs to be produced or acquired for Disney+ customers outside of the United States, according to a statement from the company.

In recent years, Netflix had been luring away high-profile executives from rivals and was earlier sued by Twentieth Century Fox Film Corp for poaching employees as it built an audience of nearly 149 million global customers.

Disney unveiled details of Disney+, an ad-free monthly subscription streaming service, in April and priced it at $7 monthly or $70 annually with a slate of new and classic TV shows and movies from some of the most popular entertainment franchises.

Disney+ is set to launch on Nov. 12.

(Reporting by Sayanti Chakraborty in Bengaluru and Lisa Richwine in Los Angeles; Editing by Arun Koyyur and Lisa Shumaker)

Stocks mentioned in the article
ChangeLast1st jan.
NETFLIX -0.65% 363.172 Delayed Quote.36.74%
WALT DISNEY COMPANY (THE) -1.03% 142.5347 Delayed Quote.31.60%
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Financials (USD)
Sales 2019 72 846 M
EBIT 2019 15 842 M
Net income 2019 11 493 M
Debt 2019 33 136 M
Yield 2019 1,23%
P/E ratio 2019 20,8x
P/E ratio 2020 24,9x
EV / Sales2019 4,02x
EV / Sales2020 3,40x
Capitalization 260 B
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 149,75  $
Last Close Price 144,30  $
Spread / Highest target 24,7%
Spread / Average Target 3,78%
Spread / Lowest Target -27,9%
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Managers
NameTitle
Robert A. Iger Chairman & Chief Executive Officer
Christine M. McCarthy Chief Financial Officer & Senior Executive VP
John S. Chen Independent Director
Aylwin B. Lewis Independent Director
Fred H. Langhammer Independent Director
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