[noelherrick]

It says it in the article: it's what their business model is like. Netflix pays a bunch of money in R&D and then has a low marginal cost for each additional customer, who are on a subscription (like so many SaaS businesses). Disney, if it was just Disney+, would probably be thought of as a tech company, but Disney is also all about their intellectual property and the ways to monetize that: movies, parks, and merch.

Disney's interesting because it's not just another media company, so what category does it fit in? Perhaps it's big enough that folks are just "Disney" analysts. Speaking of hydra, how do you analyze the stock prices for companies like Sony? They make movies, music, TVs, video games/consoles, cameras (high-end for professionals), phones, CMOS camera sensors, and probably others I'm not even aware of.