Though Disney has its hand in a whole host of interconnected businesses, the core of the company revolves around its movie studios. And lately, that component of the famous company's business has been lagging, suggesting to analysts and investors that the company has some issues it should deal with.
One analyst estimated that the company has lost a total of nearly $900 million on its previous eight releases, which include Pixar's "Elemental," a film with a $200 million budget whose opening weekend saw box office numbers of $29 million.
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The company's stock, which opened Tuesday at $88.90 per share, is still far below the high of $197 it reached in March 2021.
"When we look at what's happening to (DIS), their growth in their subscribers has slowed and churn among their individual projects -- Disney+, Hulu and ESPN+ -- is really high," SVB MoffettNathanson co-founder and senior analyst Michael Nathanson told CNBC. "The way they fight churn is by creating one product. So the math says that you need more content, you need more compelling content, it's going to reduce churn. "
As to whether the possibility of a three-in-one Disney streaming bundle is actually in the cards, Nathanson isn't quite sure.
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"Disney has created this very linear, logical view of 'hey, ESPN is an app, Disney+ and Disney content is an app,' and they've created a kind of separate silo," he said. "But on the last earnings call, Bob Iger hinted perhaps he's thinking about reforming the original thought of three separate products."
Disney, which currently owns 66% of Hulu, might wind up purchasing Comcast's 33% stake sometime in 2024, per a 2019 deal between the two media giants, an eventuality that would bring the possibility of a streaming bundle much closer to reality.
