为什么说迪士尼正走向巅峰

    虽然迪士尼的持续增长前景显而易见，但其弱点同样明显。进入按需点播的互联网电视时代后，无线和有线电视观众都在流失，迪士尼的媒体网络业务可能继续“慢性失血”。迪士尼已经在努力适应互联网电视的世界，但转型的步伐今年愈发加快。

    大片策略也可能成为迪士尼的软肋。评论人士经常指责好莱坞大制作缺乏原创性，面对接二连三的大片，也许终有一天观众会彻底失去胃口。举例来说，《明日世界》上周末票房仅有4000万美元，相比1.90亿美元的预算，这样的表现令人失望。在美国阵亡将士纪念日首映的所有影片中，其票房成绩甚至排在20名开外。

    眼下，只要艾格继续执掌迪士尼，投资者似乎就信心满满。去年秋天，迪士尼第二次和艾格续约，将其退休时间推后到2018年。对新买入这只股票的投资者来说，迪士尼片场里加紧拍摄的一部部大片固然让人期待，但他们最想先睹为快的是：艾格带领迪士尼股票谱写的成功故事续集。（财富中文网）

    译者：Charlie

    审校：夏林

    While it’s easy to imagine Disney’s growth continuing, it’s also easy to see areas of vulnerability. Audiences moving from broadcast TV and cable subscriptions in an era of on-demand Internet TV could slowly bleed Disney’s media-networks business. Disney has made moves to adapt to a world of over-the-top television, but the transition hasstarted to accelerate this year.

    The blockbusters could also become a vulnerability. Critics often chide the lack of originality in Hollywood’s blockbuster machine, and at some point audiences might lose their appetite for a glut of blockbusters.Tomorrowland, for example, drew only $40 million over the weekend, a disappointing take for a film with a $190-million budget. It doesn’t even rank in the top 20 grosses for Memorial Day openers.

    For now, investors seem confident in Disney as long as Iger remains at the helm. Last fall, Disney extended Iger’s contract for the second time, pushing his retirement date back until 2018. More than any movie Disney’s studios may have in the works, the sequel investors are most interested in seeing is the success story Iger has brought to Disney shares.