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Good morning.
Apple TV+ is launching today, to some pretty dismal early reviews. But Apple has the resources to eventually get the content right. A bigger question is: how many different streaming services do TV viewers want, at the end of the day, and how much are they willing to pay for them?
To find the answer, Coins2Day Analytics teamed up with Survey Monkey to poll a representative sample of 1,100 Americans on their streaming habits. Some takeaways:
- 28% of Americans say they are prepared to subscribe to Disney+ ($6.99) or the Disney bundle. That number is only half–14%–for Apple TV+ ($4.99) and even less–8%–for NBC’s service.
- 2 in 5 current users of Netflix, Hulu or Amazon say they are likely to subscribe to at least one of the new services.
- 14% say they will cut their cable service when the new services become available. 11% say they will cut one of their existing video streaming services.
Bottom line: Disney has the clear early lead among the new services. Netflix and Hulu have the most to lose. And there is a limit to what Americans will pay: half say $25 is the most they are willing to spend on streaming services.
You can mine more data from Coins2Day Analytics here.
Separately, online education platform EdX promoted Adam Medros to president and co-CEO, along with founder Anant Agarwal. Medros was in the Coins2Day offices earlier this week, arguing his online education platform can play a critical role in providing skills to the underemployed, and also in helping all workers meet the need for lifelong education.
More news below.
Alan Murray
[email protected]
@alansmurray
TOP NEWS
Fuel Efficiency
The Trump administration is reportedly backing down on its attempt to entirely freeze emissions targets for new vehicles. It's not going back to the Obama-era rules that called for 5% annual fuel-efficiency increases, but is apparently considering requirements for an annual 1.5% increase. Wall Street Journal
Sorkin vs. Zuck
Widely shared over the last day: an open letter from Aaron Sorkin to Mark Zuckerberg, in which the Social Network screenwriter lays into his lead character over the issue of disinformation. Sorkin also said Facebook tried to get him to change its name in the movie, and COO Sheryl Sandberg asked after an early screening, "How can you do this to a kid?" (Zuck was 26 at the time.) Zuckerberg's response? Throwing Sorkin's own free-speech script back at him. New York Times
Dimon's Rules
The Securities and Exchange Commission is reportedly considering making it easier for corporations to block ballot submissions from activist investors who own few shares, but want companies to take a more aggressive stance on issues such as climate change. The plan is apparently "heavily influenced" by the Business Roundtable, which has been pushed by chair Jamie Dimon to lobby the SEC on proxy voting rules (and which has recently been talking up companies' social responsibilities.) Bloomberg
E-Cigarettes
A new blow for the nascent e-cigarette industry: China's tobacco regulator has banned online sales of the vaping devices. The move is intended to combat their use by minors. Reuters
AROUND THE WATER COOLER
Impeachment Effect
President Trump says the impeachment efforts against him are hurting the stock market. Wall Street strategists don't believe that's true—though they do think stocks could take a hit if the impeachment process starts to tilt the 2020 election towards Democratic candidates such as Bernie Sanders or Elizabeth Warren. CNBC
WeWork Suit
The former chief of staff to WeWork co-founder Adam Neumann has filed a discrimination suit against him and the company, on behalf of herself and "a class of similarly situated female WeWork employees." Medina Bardhi claims Neumann described her maternity leave as "vacation" and "retirement" and alleges that his smoking of marijuana on chartered flights made her fear for the health of her unborn child. BBC
Corbyn Targets
The U.K.'s opposition Labour Party may be behind in the polls, but don't underestimate the campaigning prowess of leader Jeremy Corbyn. So note the tone of his election campaign, launched yesterday with a focus on super-rich individuals such as the Duke of Westminster, Rupert Murdoch and hedge fund boss Crispin Odey. "They’ll throw everything at us because they know we’re not afraid to take them on," he said in a speech. Financial Times
Gates Tips
Bill Gates recently popped back to his old prep school to dispense some hard-won lessons. Among his tips: be curious, know yourself—so as to delegate the stuff you're not particularly good at—and be optimistic. Coins2Day
This edition of CEO Daily was edited by David Meyer. Find previous editions here, and sign up for other Coins2Day newsletters here.
