The direct-to-consumer business, which includes Disney+ and Hulu, posted quarterly operating income of $47 million compared with a loss of $587 million a year earlier. Revenue rose 13% to $5.64 billion.
For the combined streaming businesses, which includes Disney+, Hulu and ESPN+, secondquarter operating loss shrunk to $18 million from $659 million, while revenue improved to $6.19 billion from $5.51 billion.
Disney+ core subscribers climbed by more than 6% in the second quarter.
Yet the improved picture for Disney on streaming arrives with its cable business in decline. That segment saw revenue slide 8% in the most recent quarter.
“Looking at our company as a whole, it’s clear that the turnaround and growth initiatives we set in motion last year have continued to yield positive results,” Iger said in a prepared statement.
Speaking during Disney’s conference call, Iger said that the company plans to add an ESPN tab to Disney+ by the end of the year, a maneuver that was previously made with Hulu. This will give U.S. subscribers access to some live sports and studio programming within the Disney+ app.
ESPN, Fox and Warner Bros. Discovery announced plans in February to launch a sports streaming platform in the fall that will include offerings from at least 15 networks and all four major professional sports leagues.
Iger also said that next month the company will start cracking down on password sharing for its streaming service in some markets, and will expand that crackdown globally in September.
While Disney has quality streaming content, Iger said that the company must now focus on building out its technology, similar to what rivals like Netflix have been doing. Those actions, including the password crackdown, are expected to improve profits.
Bu hikaye Techlife News dergisinin May 11, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Techlife News dergisinin May 11, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
FACEBOOK OWNER META SEEKS TO TRAIN AI MODEL ON EUROPEAN DATA AS IT FACES PRIVACY CONCERNS
Meta wants to use data from users in privacy-conscious Europe to train its artificial intelligence models, the social media giant said this week as it faces concerns about data protection while battling to keep up with rivals like OpenAl and Google.
EUROPE WANTS AFFORDABLE ELECTRIC VEHICLES FROM CHINA. BUT NOT AT THE COST OF ITS OWN AUTO INDUSTRY
The European Union moved this week to hike tariffs, or import taxes, on electric vehicles made in China. EVs are the latest flash point in a broader trade dispute over Chinese government subsidies and the Asian nation's burgeoning exports of green technology to the 27-nation bloc.
COMMUNITY HEALTH CENTERS' NEW CRISIS: THE NEED FOR BACKUP POWER
The 2017 Tubbs Fire, which killed 22 people and destroyed 5,600 buildings, was already a stressful time at Alliance Medical Center's clinic here, as workers who picked grapes in the nearby vineyards streamed into the nonprofit community health center with burns, symptoms of smoke inhalation, and other crises.
DEMAND FOR FOOD DELIVERY HAS SKYROCKETED. SO HAVE COMPLAINTS ABOUT SOME DRIVERS
A soaring demand for food delivered fast has spawned small armies of couriers - and increasing alarm - in big cities where scooters, motorcycles and mopeds zip in and out of traffic and hop onto pedestrian-filled sidewalks as their drivers race to drop off salads and sandwiches.
BILL FOR 'FOREVER CHEMICALS' MANUFACTURERS TO PAY NORTH CAROLINA WATER SYSTEMS ADVANCES
North Carolina's top environmental regulator could order manufacturers of \"forever chemicals\" to help pay for water system cleanup upgrades whenever they are found responsible for discharges that contaminate drinking water beyond acceptable levels, under legislation advanced by a state House committee this week.
NETFLIX'S RECIPE FOR SUCCESS INCLUDES 'SECRET SAUCE' SPICED WITH SILICON VALLEY SAVVY
Although its video streaming service sparkles with a Hollywood sheen, Netflix still taps its roots in Silicon Valley to stay a step ahead of traditional TV and movie studios.
'THE BOYS,' AMAZON'S HIT SUPERHERO SATIRE SHOW, WILL END WITH SEASON 5
\"The Boys,\" Amazon Prime Video's epic superhero satire series, will end with its fifth season.
BEST HYBRID SEDANS FOR UNDER $35,000
More than ever, buying a hybrid vehicle makes a lot of sense. The latest models are just as powerful ― in some cases, more powerful ― as related gas-only models and have such small price premiums that it's easy to start saving money while reducing your vehicle-based carbon emissions. But what to choose, especially when you're on a tight budget? Consider a hybrid sedan. Compared to an SUV, they typically get better mileage and have a lower starting price. Experts highlight six of the top new hybrid sedans on sale today for under $35,000. They are ordered below by price including the destination charge.
IN WYOMING, BILL GATES MOVES AHEAD WITH NUCLEAR PROJECT AIMED AT REVOLUTIONIZING POWER GENERATION
Bill Gates and his energy company are starting construction at their Wyoming site for a next-generation nuclear power plant he believes will \"revolutionize\" how power is generated.
WWDC: APPLE PAY WILL HAVE MORE PAYMENT OPTIONS THIS FALL AND WILL ALSO WELCOME WINDOWS, CHROME USERS
Apple Inc. plans to add several new features to Apple Pay and Apple Wallet later this year that will more deeply integrate financing, rewards, and buy now, pay later options into the iPhone.
