July 8, 2008
Analyst says TV industry facing dark days ahead
Lehman Brothers cut the stock ratings on Monday of Walt Disney Co, Time Warner and other top entertainment companies, fearing the television and film industry could suffer the same battering as the music business.
"To be clear, our fear is that the damage that digital distribution inflicted on the music industry will replicate itself in the movie industry, and our fears are too great to justify keeping neutral or positive ratings on the creators and distributors of movie and TV content," wrote analyst Anthony DiClemente.
... DiClemente argued that, as consumers shift to new types of media -- movie downloads, for instance, or TV video recorders that make it possible to skip commercials -- the big entertainment companies will struggle to replace traditional sources of revenue."
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