James Czerniawski joins Next Gen Investing with his takeaways on Walt Disney (DIS) as shares rally following earnings. He discusses the give-and-take mentality between ad-free and ad-supported offerings of its Disney+ subscribers as new CEO Josh D'Amaro now holds the reins at Disney. James looks at the company's ESPN business segment and the tight margins related to sports broadcast rights. He later discusses a TikTok partnership with Disney that could reach a new social media audience.