Disney’s streaming losses improve even as subscriber numbers decline
Publishing timestamp: 2023-05-10 16:01:12
Summary
Disney's streaming losses narrowed in the fiscal second quarter, with price increases helping to offset subscriber losses at Disney+. The company reported revenue and profit in line with expectations, with significant growth at its theme parks but struggles in its linear TV unit. CEO Bob Iger is overseeing a restructuring with job cuts planned. Disney+ subscriptions fell below expectations, but direct-to-consumer operating income losses were narrower than projected. The company plans to add Hulu content to Disney+ and raise prices for its ad-free streaming service. Disney's linear TV networks saw a decline in revenue, but its parks, experiences, and products divisions saw a 17% increase in revenue. Challenges include ongoing legal battles and production shutdowns due to the writers' strike.
Sentiment: MIXED
Tickers: DIS,
Keywords: breaking news: earnings, movies, entertainment, breaking news: business, life, business news, walt disney co, media, earnings, business,
Source: https://www.cnbc.com/2023/05/10/disney-dis-earnings-report-q2-2023.html