Bob Iger Faces Disney+ Losses, the Hulu Question and a Feisty Foe on Cusp of Q1 Earnings Report

The company’s quarterly report Wednesday, the first under the returning leader, comes as the entertainment giant looks to fend off activist investor Nelson Peltz

Disney’s returning CEO Bob Iger will face Wall Street’s glare again Wednesday as investors seek answers on the entertainment giant’s strategy moving forward, including how it plans to make Disney+ profitable and what the future holds for Hulu and ESPN. And his famed diplomatic skills will be put to the test as he seeks to reassure analysts and contend with a restive investor the company has dismissed as “oblivious” to the streaming future.

As of Oct. 1, Disney boasted a total of more than 235 million streaming subscribers across its services, including 164.2 million at Disney+, 47.2 million at Hulu and 24.3 million at ESPN+. However, the company posted a nearly $1.5 billion streaming loss for the quarter — the final straw that led to the ouster of Iger’s successor Bob Chapek. At the time, Chapek reiterated the company’s guidance that Disney+ would achieve profitability in fiscal 2024, adding that it anticipated the division’s losses would begin to shrink starting in the first quarter of 2023.

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Lucas Manfredi

Lucas Manfredi is a TV Business reporter with TheWrap. He has a Bachelor of Science in Television-Radio from Ithaca College. He can be reached at