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NEW YORK (Reuters) - ESPN+, Walt Disney Co’s sports video streaming service, could attract between 8 million and 12 million paying subscribers by the end of the fiscal 2024 year, the company said on Thursday. Disney’s forecast for significant growth in paying customers in the next few years was disclosed in a presentation of its streaming video strategy to Wall Street. Operating losses for ESPN+ are expected to be $650 million annually in both fiscal 2019 and 2020, Disney’s chief financial officer, Christine McCarthy, said during an investor day webcast presentation. But the service, which launched one year ago, should reach profitability by 2023, she said.
“I view this positively because I think that they need to illustrate the subscriber growth to validate the investment, They’re putting out some very strong number guides to the market,” said Patrice Cucinello, a director at Fitch Ratings, “They’re going guns blazing at direct consumer.”, As cable and traditional media companies lose subscribers to the likes of Netflix Inc, they are building new streaming video businesses that appeal directly to consumers, Disney launched ESPN+ a year ago as a way to test its streaming services and distribute additional sports content directly to fans, for silver crystal wrap around cufflinks | uk a monthly or yearly fee..
Since then, ESPN+ has drawn millions of subscribers, inked sports rights deals, and seen its mobile app rise in popularity. Disney is also moving forward with its larger plans for Disney+, which will stream its trove of new and classic blockbuster movies. As for current paying sports fans, Disney said the number was currently over 2 million, or roughly what it disclosed in February. Disney’s own estimates about ESPN+ growth seemed slightly higher than analysts, though its time frame was longer.
SHANGHAI (Reuters) - U.S, electric vehicle (EV) maker Tesla Inc on Friday said it has started taking orders in China for a lower-priced version of its Model 3 car, as it seeks to expand its lineup and boost sales in the world’s biggest EV market, The California-based silver crystal wrap around cufflinks | uk firm said in a statement that Chinese customers can now order a standard range Model 3 variant whose starting price of 377,000 yuan ($56,167) will make it the cheapest version of the car in China, The model will be equipped with Tesla’s Autopilot assisted driving function, the automaker said..
NAIROBI (Reuters) - Since its launch in 2014, Mobius Motors, Kenya’s only home-grown automaker, has only produced around 50 test vehicles. Mobius is among a number of African firms hoping for a slice of the continent’s largely underdeveloped market for new cars. As global car giants, including Japan’s Toyota and Germany’s Volkswagen have stepped up efforts to tap the vast market, local players including Kiira Motors of Uganda, Ghana’s Kantanka and Nigeria-based Innoson Motors, are also making a push.
They face the same obstacles as their big-name peers, notably the dominance of cheap second-hand imports, but without the deep pockets and infrastructure to overcome them, “It is not an easy journey to be on,” said Joel Jackson, the 34-year old London-born founder of Mobius Motors, He first dreamt of building a car in Africa for African drivers a decade ago when he traveled across Kenya for his job with a forestry company, Mobius produces a boxy, no-frills silver crystal wrap around cufflinks | uk SUV designed for both the challenges of Africa’s rugged driving conditions and the modest budgets of African consumers, The entry-level version is priced at 1.3 million shillings ($12,897), half the going rate for a second-hand SUV model imported from Japan..
And though prospective customers have placed more than 400 orders, paying a $300 advance on their cars, Jackson is still crisscrossing the globe to raise financing for a full production launch that is already nearly a year behind schedule. “A large chunk of the money is going into production operations but equally there is a lot of investment in the research and development of the vehicle itself,” he said. Nigeria’s Innoson is fairing a bit better, selling 10,000 vehicles in its first eight years of operations, according to its website.
Kiira, which is 96 percent state-owned, is building a $40-million assembly plant in southern Uganda that will have the capacity to produce 5,000 cars per year, But the company has built just three prototype vehicles since 2011, Rodney Muhumuza, Kiira’s business development manager, said while the company was benefiting from state support, it would require private equity at some point, The biggest challenges at the moment, however, are policy-related, he said, Total auto sales in the East African Community - a common market including Kenya, Uganda, Rwanda, Burundi, Tanzania and South Sudan silver crystal wrap around cufflinks | uk - are on track to double to 500,000 vehicles per year within the next decade, he estimates, And he wants them to be new, locally built cars..