The Walt Disney Company (DIS)’s CEO Says Parks Were a “Big Surprise.” Comcast Corporation (CMCSA) Just Ended a Three-Month Football Blackout
The Walt Disney Company's CEO Josh D'Amaro stated that the parks division was a "big surprise" last quarter, despite the stock being down over 8% in the past year. Concurrently, Disney and Comcast reached a deal to end a three-month blackout of NFL Network and NFL RedZone on Xfinity, following Disney's acquisition of NFL Media assets. This negotiation tested Disney's new leverage, though financial terms remain undisclosed, leaving it unclear who gained more from the agreement.
Which Streaming Stock Would Hold Up Better in a Recession: Netflix or Walt Disney?
In a potential recession, streaming services are expected to be resilient as low-cost entertainment. Between Netflix and Walt Disney, Netflix is positioned to hold up better due to its pure-play streaming model. Disney's lucrative experiences segment, which accounts for a significant portion of its operating income, makes it more vulnerable to economic downturns as consumers cut back on expensive travel and theme park visits.
After becoming China’s answer to YouTube, BiliBili has its eyes on the rest of the world
BiliBili, a 17-year-old Chinese entertainment hub akin to YouTube, is expanding its global presence after establishing itself in China where YouTube is banned. The platform is relaunching an international platform, dropping ID requirements for overseas signups, and hiring staff in major cities worldwide to compete in the global video market. BiliBili aims to attract Western creators by offering monetization features like real-time "danmu" comments and direct fan funding, hoping to replicate the success of TikTok's international expansion.
Inside ‘Disney Worldbuilders’: Where Storytelling Becomes a World You Can Experience
A panel of Disney's top creative minds, including Pete Docter, Jon Favreau, Kevin Feige, Dave Filoni, and Jared Bush, discussed the new film "Disney Worldbuilders" at D23. The film explores how The Walt Disney Company transforms storytelling into immersive physical experiences. These leaders shared insights into the emotional impact of seeing their creative visions become tangible worlds in Disney parks, emphasizing the unique collaborative process between storytellers and Imagineers.
Csenge Advisory Group Buys New Stake in Curtiss-Wright Corporation $CW
Csenge Advisory Group has acquired a new stake of 1,773 shares, valued at approximately $1.34 million, in Curtiss-Wright Corporation (NYSE:CW) during the second quarter. Other institutional investors have also increased their positions, with institutions now owning 82.71% of the company's stock. Despite some insider selling, Curtiss-Wright exceeded Q2 earnings expectations, reporting an EPS of $3.72 against a $3.62 consensus, and analysts maintain a "Moderate Buy" rating with an average price target of $782.50.
Walt Disney (NYSE: DIS) officer lines up stock sale under Rule 144
Walt Disney Co (NYSE: DIS) officer Paul M. Roeder has filed a Rule 144 notice to sell up to 3,596 shares of Disney common stock, valued at $382,326.72, through Merrill Lynch on or after August 19, 2026. The shares stem from vested restricted stock unit awards granted as part of Disney's equity compensation plan. This filing is a notice of proposed sale and not a confirmation that the sales have already occurred.
Hasbro (HAS) Stock Could Be A Bargain On Cash Flow And Earnings
Hasbro's stock (HAS) appears undervalued based on its Discounted Cash Flow (DCF) intrinsic value estimate and current earnings multiples, despite a 57.2% return over the past three years. The DCF model suggests a 38.5% discount to its intrinsic value of $152.78 per share, while its P/E ratio is lower than both the industry and peer averages. Recent cancellations of content projects highlight potential risks, but growth in digital gaming and licensing could support future cash flows.
AI Analysis Confirms Years of Investor Concerns Over Corporate America’s Woke, Liberal Politics
The American Conservative Values ETF (ACVF) released an analysis comparing responses from four independent AI systems (Claude, Grok, Copilot, and ChatGPT) to identify large-cap S&P 500 companies perceived as "woke" or "liberal" by conservatives. The analysis found a strong consensus, with 15 companies appearing on at least two lists and seven (Walt Disney, BlackRock, Alphabet, Meta, Amazon, Nike, and Starbucks) appearing on all four, aligning with ACVF's investor surveys and boycott list. This independent confirmation validates long-standing concerns of conservative investors regarding corporate political leanings.
Six Flags dolphin death prompts concern
A bottlenose dolphin named Chelsea, who spent over four decades at Six Flags Discovery Kingdom, was euthanized last month due to chronic diseases. This event has led animal rights group PETA to renew its calls for the park to move its remaining dolphins to seaside sanctuaries and end all swim-with-dolphins encounters. PETA argues that dolphins have complex needs not met in captivity and points to Chelsea's death as an example of welfare concerns.
Netflix Is Down, But One Billionaire Thinks the Stock Is a Buy
Billionaire Bill Ackman has re-entered Netflix (NFLX) despite a previous $400 million loss, signaling confidence in the streaming giant. Analysts at 24/7 Wall St. project a 12-month price target of $177.27, suggesting a 128% upside, backed by Netflix's strong fundamentals, expanding ad revenue, and growing ventures in sports and gaming. Despite a recent stock downturn, Netflix's valuation appears attractive when compared to competitors like Spotify and Disney.
Netflix Trades at 21 Times Forward Earnings After Falling 43% From Its High. Here's How That Multiple Compares to Where the Stock Traded the Last 2 Times It Fell This Far.
Netflix's stock has dropped 43% from its high, leading to a forward earnings multiple of 21. This article compares the current valuation to previous major sell-offs in 2011 and during the late 2021 pandemic recovery, when the P/E ratio fell even lower to 14 and 15 respectively. The author suggests that based on historical patterns, a P/E of 21 might not yet signal a bottom for the stock, given current uncertainties around revenue and subscriber growth and increased competition.
Netflix Trades at 21 Times Forward Earnings After Falling 43% From Its High. Here's How That Multiple Compares to Where the Stock Traded the Last 2 Times It Fell This Far.
Netflix stock has dropped 43% from its high, resulting in a forward earnings multiple of 21, which is significantly lower than its historical premium valuation. This article analyzes how Netflix's valuation and investor sentiment changed during its previous two major pullbacks in 2011 and late 2021, and questions whether the current P/E of 21 indicates a bottom for the stock given ongoing challenges. Historically, the P/E ratio has fallen lower during previous downturns before a recovery.
1,095,925 Shares in The Walt Disney Company $DIS Purchased by Danske Bank A S
Danske Bank A S has purchased 1,095,925 shares of The Walt Disney Company (NYSE:DIS) valued at approximately $105.5 million in the second quarter of 2026. This acquisition makes Danske Bank A S a significant institutional holder, with other institutions owning 65.71% of Disney's stock. Disney recently reported strong quarterly earnings, beating EPS estimates, and analysts maintain a "Moderate Buy" rating with a target price of $128.61, supported by investments in theme parks and a robust film pipeline, though risks like high capital spending and franchise fatigue exist.
The Zacks Analyst Blog Highlights Walt Disney, Parker-Hannifin and Occidental Petroleum
The Zacks Analyst Blog features new research reports on The Walt Disney Co. (DIS), Parker-Hannifin Corp. (PH), and Occidental Petroleum Corp. (OXY). The reports detail the past year's stock performance and provide an outlook for each company, highlighting both opportunities and risks. Disney faces challenges with advertising and theatrical performance, while Parker-Hannifin benefits from industrial and aerospace demand, and Occidental Petroleum is boosted by high-return US resources and Permian execution.
Wild! Mattel Sets UNO Card-Game Competition Series to Stream on Twitch
Mattel is launching the UNO Championship Series, a live-event competition that will stream on Twitch. The series will feature qualifying rounds both in-person and through the UNO Mobile app, culminating in a championship tournament in Los Angeles on November 11th. The winner of the tournament will receive a $50,000 grand prize.
Netflix Climbs 4% on Ackman’s Return, Still Down 16% in 2026
Netflix shares rose 4% after Bill Ackman’s Pershing Square disclosed a new position in the company, four years after exiting a previous stake at a loss. Despite this gain, NFLX stock remains down 16% year-to-date and 37% over the past year. This move is seen as a Netflix-specific event rather than a re-rating of the broader streaming sector, as competitors Disney and Warner Bros. Discovery saw only minor increases.
ABC and Disney sue FCC, alleging First Amendment violations
ABC and its parent company Disney have filed a lawsuit against the Federal Communications Commission, accusing the Trump administration of violating their First Amendment rights. They allege that the FCC's investigations and challenges to broadcast licenses are retaliatory actions in response to ABC's news coverage, late-night satire, and talk show views. The lawsuit highlights President Trump's social media posts and past calls for ABC to lose its licenses, asserting that "Government censorship is deeply un-American."
Disney and ABC sue FCC, seeking to stop early license renewal process
The Walt Disney Co. and ABC have sued the Federal Communications Commission (FCC) to prevent the early renewal of their broadcast licenses, arguing it's a retaliatory move by the Trump administration against ABC's content. The lawsuit claims the FCC's action is an attack on free speech and an "existential threat" to the company, stemming from criticism of ABC programs like "The View" and comments made by Jimmy Kimmel. Disney CEO Josh D'Amaro stated the company is committed to journalistic integrity and will not be dictated on how to run its broadcast business.
Macy’s Kicks Off the 100-Day Countdown to the 100th Macy’s Thanksgiving Day Parade®
Macy's is launching a 100-day countdown to its 100th Thanksgiving Day Parade, inviting customers to celebrate this centennial milestone. The parade will feature a record-breaking 100 inflatable elements, including new characters and the return of favorites like Underdog and Felix the Cat, alongside a new float honoring Tony Sarg. Macy's will also offer exclusive merchandise collaborations and educational partnerships with Khan Academy.
Netflix Climbs 4% on Ackman’s Return, Still Down 16% in 2026
Netflix shares rose 4% after Bill Ackman's Pershing Square disclosed a new position in the streaming company, four years after exiting a previous stake at a loss. Despite this gain, the stock remains down 16% year-to-date. The market viewed this as a Netflix-specific catalyst, as competing streaming services like Disney and Warner Bros. Discovery saw minimal movement.
Plato Investment Management Ltd Purchases Shares of 79,394 The Walt Disney Company $DIS
Plato Investment Management Ltd recently acquired 79,394 shares of The Walt Disney Company, valued at approximately $7.6 million, marking a new position for the firm. This comes as institutional investors and hedge funds collectively hold a significant 65.71% of Disney's stock, and analysts maintain a "Moderate Buy" rating with an average price target of $128.61. Despite a recent revenue miss, Disney exceeded quarterly EPS expectations, with parks and streaming identified as key growth drivers.
The Zacks Analyst Blog Highlights Walt Disney, Parker-Hannifin and Occidental Petroleum
The Zacks Analyst Blog features new research reports on 16 major stocks, with highlights on Walt Disney, Parker-Hannifin, and Occidental Petroleum. Walt Disney faces challenges in SVOD advertising and theatrical performance but is supported by strong IP and a profitable streaming model. Parker-Hannifin benefits from industrial demand and aerospace strength, while Occidental Petroleum's earnings are boosted by U.S. resources and Permian execution, though both companies face their respective risks.
The Zacks Analyst Blog Highlights Walt Disney, Parker-Hannifin and Occidental Petroleum
The Zacks Analyst Blog features research reports on Walt Disney (DIS), Parker-Hannifin (PH), and Occidental Petroleum (OXY). It discusses Disney's mixed outlook due to softer streaming ads and high spending, offset by strong IP and experiences. Parker-Hannifin is highlighted for outperforming its industry with strong industrial demand and strategic acquisitions, despite risks in certain sectors and integration costs. Occidental Petroleum's strong performance is attributed to high-return U.S. resources and cost reductions, though sensitive to energy prices and geopolitical risks.
Buckland Partners Management Co LLC Takes $1.09 Million Position in The Walt Disney Company $DIS
Buckland Partners Management Co LLC has acquired a new position in The Walt Disney Company, purchasing 11,223 shares valued at approximately $1.09 million during the second quarter. This move is part of broader institutional interest, with 65.71% of Disney's stock held by such investors. The company faces both opportunities, like theme park expansions and a strong entertainment pipeline, and challenges, including capital investment needs and potential "franchise fatigue" with its content slate.
JONAS BROTHERS BRING THE BURNING UP TOUR ALL OVER AGAIN TO MGM GRAND GARDEN ARENA NOVEMBER 28, 2026
The Jonas Brothers announced "The Burning Up Tour All Over Again," a 45-city North American tour, after overwhelming demand for their Madison Square Garden shows. The tour, promoted by Live Nation, will stop at the MGM Grand Garden Arena in Las Vegas on November 28, 2026, with tickets going on sale August 21. This announcement follows a significant week for the band, including an NFL halftime performance announcement, the premiere of Camp Rock 3, and their induction as Disney Legends.
Life360 (LIF) Q2 2026 Earnings Call Transcript
Life360 (LIF) reported strong Q2 2026 financial results, with total revenue growing 38% to $159 million and monthly active users reaching 102.4 million. The company is transitioning to an AI-native operating model, expanding its Family AI Lab, and shifting its hardware strategy towards bundled subscriptions, particularly for pets. Despite strong subscription revenue growth and advertising platform integration, full-year adjusted EBITDA guidance remains unchanged due to elevated seasonality in advertising and strategic investments.
Top Stock Reports for Walt Disney, Parker-Hannifin & Occidental Petroleum
This article highlights new research reports from Zacks on 16 major stocks, focusing on detailed analyses for The Walt Disney Co. (DIS), Parker-Hannifin Corp. (PH), and Occidental Petroleum Corp. (OXY). It discusses each company's recent performance, factors influencing their outlook, and potential risks and opportunities. The report also briefly mentions other noteworthy stocks like Edison International (EIX), Dollar Tree, Inc. (DLTR), and Expeditors International of Washington, Inc. (EXPD).
Top Stock Reports for Walt Disney, Parker-Hannifin & Occidental Petroleum
Zacks Research Daily has released new research reports on 16 major stocks, including The Walt Disney Co. (DIS), Parker-Hannifin Corp. (PH), and Occidental Petroleum Corp. (OXY). The reports detail the current outlooks, challenges, and strengths for each company, highlighting factors such as Disney's streaming strategy, Parker-Hannifin's industrial demand and acquisitions, and Occidental Petroleum's Permian resources and debt repayment efforts. The article also touches on other featured reports for Edison International (EIX), Dollar Tree, Inc. (DLTR), and Expeditors International of Washington, Inc. (EXPD).
Spotify Just Crossed 300 Million Subscribers. Why Did the Stock Shrug?
Spotify reported crossing 300 million paying subscribers, achieving record gross margins, and generating significant free cash flow in its latest quarter, yet its stock saw minimal reaction. Analysts are divided on Spotify's valuation, largely due to uncertainty surrounding its new revenue streams, such as premium monetization features and increased advertising effectiveness. The article suggests that the stock's future performance hinges on the success of these new initiatives and the company's ability to demonstrate controlled spending and margin expansion.
Disney updates: Villains Land, Tropical Americas, Disco Yeti, more
Walt Disney Co. has unveiled numerous attraction updates during the D23 fan event, detailing new rides and lands across its four Walt Disney World theme parks. Highlights include new names and story elements for the Tropical Americas section at Animal Kingdom, the announcement of "Villains Land" at Magic Kingdom with specific themed coasters, and new experiences for Hollywood Studios and Epcot. The company also confirmed the return of the Yeti animatronic in Expedition Everest and Dreamfinder at Epcot.
SeaWorld offers Fun Card pass that covers rest of year, all of 2027
SeaWorld Orlando is selling a Fun Card pass that provides admission to the theme park for the remainder of 2026 and all of 2027, priced at $139.99, with an option including Aquatica for $179.99. This limited-time offer, which includes some block-out dates and does not cover parking or separately ticketed events, comes ahead of a new attraction, Sea Quest: Legends of the Deep, and the announcement of SeaWorld's 2027 event schedule. Busch Gardens Tampa Bay is offering a similar Fun Card deal for $114.99.
How Bath & Body Works Captured the Spirit of Disney’s Jack Skellington and Sally Through Expertly Crafted Scent
Bath & Body Works has launched a new limited-edition collection inspired by Disney Tim Burton’s The Nightmare Before Christmas, featuring two new fragrances: Jack Skellington and Sally. Developed in partnership with perfumers at DSM-Firmenich, these scents capture the essence of the characters through unique scent profiles like "pumpkin screams" for Jack and "ghastly blooms" for Sally. The collection includes body care, home fragrances, and accessories, available in Bath & Body Works stores and online.
Six Flags unveils largest-ever Halloween lineup with new haunted mazes and horror franchises for 2026.
Six Flags Entertainment Corporation has announced its largest-ever Halloween event for 2026, featuring 11 new haunted mazes inspired by popular horror franchises such as Jason Universe™, Diablo®, Final Destination™, and The Blair Witch Project®. The event will include 29 licensed haunted attractions, 196 scare zones, live entertainment, and nighttime rides across its North American parks. This expanded offering aims to provide immersive horror experiences and thrills for all ages, with family-friendly daytime activities and flexible haunted maze passes also available.
A Great Big Beautiful Tomorrow: Bob Iger Honored with a Window on Main Street, U.S.A.
Former Disney CEO Bob Iger was honored with a personalized window on Main Street, U.S.A., at Disneyland Park, a tradition reserved for those who have significantly impacted the company. The window recognizes him as "Chief Architect for New Century Builders" and praises his leadership qualities like courage, innovation, and optimism. Disney CEO Josh D’Amaro lauded Iger for expanding Disney's storytelling, focusing on creativity, and inspiring employees through his vision and respect for the company's legacy.
Starbucks Corp (SBUX) Stock News Today
This page provides recent news and analysis for Starbucks Corp (SBUX) stock from TradingKey. It lists several past movements in SBUX's stock price, including significant increases and decreases, along with dates. The information is presented as a chronological feed of stock performance updates.
Disney Games Just Laid Out Its Vision for the Future of Digital Entertainment — Here’s What D23 Revealed
At D23, Disney Games showcased its vision for the future of interactive entertainment, highlighted by announcements for KINGDOM HEARTS IV, Marvel’s Wolverine, and a new collaboration with Epic Games for Millennium Falcon: Smugglers Run in Fortnite. Disney aims to use its games portfolio as a primary entry point for fans to engage with Disney stories and characters, working with world-class developers to create original content. The event also revealed an original Kingdom Hearts anime series and emphasized the connected digital experiences Disney is building.
Disney Leaders Talk Streaming Strategy and Growth Drivers: Sports, Local Language, Vertical Media and Emerging Formats
Disney executives at the D23 fan fest discussed their strategy for streaming growth, focusing on vertical media, global sports expansion through ESPN, and local-language content production. They emphasized engaging next-generation fans with short-form content, leveraging social media for promotion, and catering to both die-hard and casual sports fans. The company also highlighted its "local for local" content approach to reduce churn and appeal to diverse international audiences, particularly in Asia Pacific.
Bellars Harris Wealth Management LLC Purchases New Position in BrightSpring Health Services, Inc. $BTSG
Bellars Harris Wealth Management LLC has acquired a new stake in BrightSpring Health Services, Inc. (NASDAQ:BTSG) during the second quarter, purchasing 63,001 shares valued at approximately $4.394 million. Other institutional investors also bought new positions in the company. BrightSpring Health Services reported strong financial results, beating analyst estimates for earnings per share and revenue, and analysts widely recommend the stock with a "Buy" rating.
Disney Experiences Showcase Reveals Major Park Updates at D23 2026
The Disney Experiences Showcase at D23 2026 revealed significant park updates worldwide, including a reimagined Tomorrowland at Disneyland Park and a new Journey Into Imagination at EPCOT featuring Figment and Dreamfinder. Hosted by Neil Patrick Harris, the event also announced new attractions for Walt Disney World Resort, Disneyland Resort, and international parks, alongside a historic seventh season for Marvel's Spidey and His Amazing Friends. The showcase highlighted Disney's commitment to immersive storytelling and fan engagement, culminating in the anticipation of the Disney Legends Awards Ceremony.
Five Below's $5 Throwback Disney Channel Movie Tee Will Make You 'Strut Like You Mean It'
Five Below has released a new $5.55 graphic tee featuring the original cast of Disney Channel's "The Cheetah Girls." This nostalgic merchandise targets early 2000s Disney Channel fans, especially given the movie's cultural impact. The article also mentions the upcoming "The Cheetah Girls: Next Gen" series, highlighting the continued relevance of the franchise.
Madison Square Garden Hasn't Paid Property Taxes Since 1982. Now the Knicks Are Worth $11.75 Billion
The article discusses the astronomical $11.75 billion valuation of the New York Knicks, driven by a recent championship, a massive national media deal, loosened private equity rules, and a perpetual property tax exemption for Madison Square Garden. It highlights how fan devotion translates into immense financial value for the franchise, while fans themselves have no leverage. The author, a Knicks fan, reflects on the implications of this valuation and the team's financial practices, including the lack of property tax payments by MSG since 1982.
Magnite Targets CTV Growth With Walmart, Samsung Partnerships and AI Ad Tools
Magnite is expanding its focus on connected-TV (CTV) advertising through strategic partnerships with major platforms like Walmart and Samsung, and by developing AI-driven ad tools. The company aims to be a key programmatic access point for CTV inventory, leveraging its relationships with large global partners and improving ad-serving technology. While the new Walmart and Samsung opportunities have not yet contributed revenue, Magnite anticipates future growth from these ventures and is also focused on optimizing its cost structure and improving EBITDA margins.
D23 2026: Disney Reveals What’s Next in Entertainment
The D23: The Ultimate Disney Fan Event in Anaheim showcased upcoming projects from across Disney's various studios and platforms. CEO Josh D’Amaro highlighted Disney's global connection with over four billion fans, and the event featured exclusive first looks, celebrity appearances, and major announcements for films like "Lilo & Stitch 2", "The Bluey Movie", "Ice Age: Boiling Point", "Tangled", "Incredibles 3", "Coco 2", "Avengers: Doomsday", and new series such as "VisionQuest" and an untitled X-Men film. The event also revealed new animated series, theatrical group plans, and extensions of fan experiences like Mundo Pixar.
Why Spotify (SPOT) Is Up 5.1% After Strong Q2 2026 Results and Capital Return Update
Spotify's stock (SPOT) rose 5.1% after reporting strong Q2 2026 results with €4.78 billion in revenue and €545 million in net income, and providing optimistic Q3 guidance. The company also completed a US$1.21 billion share repurchase program, demonstrating a balance between growth investments and returning capital to shareholders, supported by improving profitability and gross margins. This performance reinforces the investment narrative that Spotify can effectively monetize its large user base while managing content costs.
‘Kingdom Hearts’ Greenlit for First-Ever Original TV Series on Disney Channel and Disney+
Disney Channel and Disney+ have greenlit "Kingdom Hearts," an original anime series inspired by the popular video game franchise. Developed in partnership with Tetsuya Nomura and SQUARE ENIX, the series will offer a new story within the Kingdom Hearts universe. This announcement was made at D23: The Ultimate Disney Fan Event, highlighting Disney's continued focus on animated content for families.
Walt Disney Co SEC Filing (Aug 14, 2026)
This article details a Form 144 SEC filing by Walt Disney Co (DIS) on August 14, 2026. The filing indicates a proposed sale of 7,238 shares of common stock with an aggregate market value of $762,198.18, acquired through the exercise of employee stock options. The transaction was a broker-assisted cashless exercise, with Merrill Lynch listed as the broker.
Netflix plans to close two gaming studios, including one in Hollywood
Netflix is closing two of its gaming studios, Night School in Hollywood and Moonloot in Helsinki, as part of an organizational restructuring to operate more efficiently. This move follows mixed results in its gaming strategy since expanding into the sector in 2021 and a previous studio shutdown last year. Despite these closures, co-CEO Greg Peters emphasized the significant market opportunity in gaming, noting solid numbers from cloud and kid games, even as Netflix faces investor pressure due to declining stock and lower streaming-watch time compared to rivals like YouTube.
Walt Disney Co. stock outperforms competitors on strong trading day
Shares of Walt Disney Co. (DIS) rose 1.96% to $106.85 on Friday, outperforming the broader market which saw the S&P 500 Index and Dow Jones Industrial Average decline. This marks the second consecutive day of gains for Disney's stock.
An inside look at what's to come for The Walt Disney Company
Joelle Garguilo provides a preview of the upcoming D23 event from Anaheim, offering insights into what's next for The Walt Disney Company. The article briefly mentions this preview as the main content.
Power Rangers Reboot Falls at Disney+: Hasbro’s IP Deal Dooms Both Streaming Bids
Disney+ has canceled its planned live-action Power Rangers series, following a similar decision by Netflix in 2024. The primary reason for both cancellations is the financial impracticality of major streaming platforms funding high-budget productions for intellectual property (IP) they do not own, as Hasbro holds the Power Rangers brand. This issue is compounded by the end of the Super Sentai footage pipeline from Japan, which historically made Power Rangers production more affordable, forcing any new series to bear full production costs.
