Bob Iger says Disney is going all-in on streaming.
The Disney CEO laid out a new course on Wednesday for the company’s streaming business, saying the company would launch a beta version of a combined Disney+ and Hulu app offering in December and make achieving “significant and sustained profitability” for its streaming business a top priority.
The company’s confidence was supported by strong streaming results in Q4, adding 7 million subscribers to Disney+, mostly international.
With the company set to purchase Comcast’s remaining 33% minority stake of Hulu for at least $8.61 billion in 2024 and a fully direct-to-consumer version of ESPN targeting a 2025 launch, Disney has laid the groundwork to execute a more focused assault on its competitors.