Yes, you have to believe in Disney's (DIS) Bob Iger about how ESPN+ is working. He even admits that when he says it is doing better than expected he won't point blank tell you what is expected.
But if ESPN has staunched the bleeding then you are in a cash machine situation, one that leaves plenty of room for the FOX (FOXA) properties and the expansion of his over-the-top offerings.
Let's face it, however; if you are buying the stock here you are really a believer that the price to earnings ratio is too low which I think is completely the case because this is the premier entertainment company ever.
What's the real resistance here? I think it's because Bob didn't' give you any targets or goals for ESPN+ so people are figuring it isn't any good. If it were good then he would give out numbers the way CBS's (CBS) Les Moonves does on his conference calls.
I am a believer.
I get the resistance but I think that, in the end, this one's a good one and can be bought and put away for the ages, or at least as long as Iger's at the helm.