Disney takes early post-Covid movie lead - Reuters

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Cast member Pedro Pascal poses at the premiere for the television series "The Mandalorian" in Los Angeles, November 13, 2019. REUTERS/Mario Anzuoni

NEW YORK, July 13 (Reuters Breakingviews) - Hollywood loves an excuse to roll out the red carpet. On Tuesday, contenders for the Emmy Awards, the most prestigious gongs in U.S. television, were revealed. Two streaming services trounced the competition read more : Netflix (NFLX.O) with “The Crown” and Disney+ with “The Mandalorian,” garnering 24 nominations each.

As post-coronavirus reopening takes hold, at least in developed markets, it's no longer just about streaming. Sure, both $335 billion Walt Disney (DIS.N) and $238 billion Netflix want to grow subscribers amidst a slowdown now that people are no longer stuck at home. They're also up against rivals such as HBO and HBO Max – whose parent WarnerMedia is set to merge with Discovery (DISCA.O) – which led all networks with 130 nominations.

Disney, though, has a not-so-secret weapon. The company is also able to ride the reopening of actual cinemas. Its stock rose 4% on Monday after the movie “Black Widow” not only pulled in a spectacular $60 million during its opening weekend on Disney+ but also easily topped the global theater box office with $158 million read more . A statue that can be both streamed and projected is worth its weight in gold. (By Jennifer Saba)

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Editing by Richard Beales and Amanda Gomez

Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time.

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