Hannah Montana Saves Stock Market Today
February 6, 2008 1:00 PM
Who could guess? OK, OK, so I’m a little prone to hyperbole. But the Walt Disney Co, and its Hannah Montana franchise in particular, saved the day on Wall Street today after Disney President-CEO Bob Iger reported a 9% pop in revenue after the final bell rang Tuesday.
OK, it wasn’t just Hannah, but strong performances by its cable nets and theme parks that buoyed the stock to be one of the few signs of green on the tape late this afternoon. Also, Disney-owned ABC seems to be the TV network least hurt by the ongoing writers’ strike.
If it feels like a recession, forget about it, we have Hannah Montana. Remember, teens with discretionary income actually spend through recessions. Not like their parents, who likely will spend their promised tax rebates on paring down debt or throw those checks into savings.
Could Hannah lead us out of recession?