Disney And Apple Have Quite A Bit In Common

At first glance, there is little in common between Apple Inc. AAPL and Walt Disney Co DIS. According to Elevation Partners' co-founder Roger McNamee, much can be compared between the two industry titans.

Speaking as a guest on CNBC, McNamee said Disney's new minority stake in BAMTech gives it a digital service that will be separate from what it currently offers cable subscribers. He expanded that Disney's battle with declining subscribers at ESPN is "a little bit like the one that Apple faces for the iPhone."

He continued that Apple has been "magnificently successful" in selling iPhones to the point where it's "often hard to come up with a second act that makes for a smooth transition."

Related Link: Disney Positioning Itself For A Digital Future

McNamee also pointed out that 80 million people in the U.S. pay for ESPN as part of a cable package, regardless if they make use of the channel or not. Accordingly, as more and more people get rid of their cable package altogether, Disney needs to reset its business model.

Nevertheless, McNamee is positive on Disney's stock but over a longer-term view.

"I think in reality over time, there will be just as much money in it for them [Disney] as there is now, but I think the transition is likely to be murky, and I think it's going to scare people," McNamee said.