The 11th Hour Dispatch — Thursday, October 4, 2018
BINGE WATCH
The beloved 2002 Disney film Lilo & Stitch is getting an animated/live-action hybrid remake. The script is being written by horror writer Mike Van Waes for some reason, and it’s currently being developed by the team behind the upcoming live-action Aladdin remake, Dan Lin and Jonathan Eirich. No one knows whether this will be a proper theatrical release or something for Disney’s upcoming streaming service, but I, for one, am super excited for it either way. Bring on more of that weird little blue dog thing.
YOUNG MONEY
Snap’s stock price continues to hit record lows. It has officially dropped below $8. The company has struggled since it announced in August that Snapchat’s daily active user numbers dropped for the first time. It also didn’t help that Evercore ISI analyst Anthony DiClemente said that Instagram is “irreversibly reducing” the company’s ability to compete and meet Wall Street expectations. Clemente projects that Snapchat will lose 1 million daily active users in Q3 alone, which prompted him to cut his price target of $9 down to $7. The app’s user numbers continue to fall even though it beat sales and profit estimates in Q2 and continues to release new features and advertising opportunities.
BIG BUSINESS
Get your carpal tunnel braces ready! Nintendo reportedly plans to launch a new Switch console as soon as summer of next year to keep its sales momentum chugging along. No word on what new features would be available, but Switch sales are not delivering as they were when it was shiny and new (it sold 19.7 million units by June 2018). A new console with some snazzy new perks could help get buzz going again. Many seem to believe the new Switch will have an improved display. The current model uses a lower-end liquid crystal display and only some of the technologies standard to recent smartphone LCDs, so it wouldn’t be unexpected to see a brighter and thinner version coming next year. I guess we’ll see how the holiday season unfolds before we find out how aggressive the Japanese gaming giant will get with its most popular console.
NOTHIN’ BUT NET
A Star is Born memes are my kryptonite.
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