To Disney (especially with the promotion of Chapek over Mayer), it's just a marketing expense for Disneyland. I think a better way to say this is that Netflix

To Disney (especially with the promotion of Chapek over Mayer), it's just a marketing expense for Disneyland. I think a better way to say this is that Netflix is in the content business, but Disney is in the intellectual property business. The parks are just one aspect of that difference, and Disney’s by necessity is a long-term strategy. To put it another way, Baby Yoda alone is going to be making more money for Disney 20 years from now than Netflix’s entire 2020 slate of programming will be for them.