07 Aug How Disney Plans to Grow Its Streaming Profit [The Hollywood Reporter]
BY CAITLIN HUSTON
August 7, 2024 | Disney announced a streaming profit for the first time Wednesday, and with price increases on their way and increased content offerings, CEO Bob Iger said he expects additional growth to come.
Speaking on the earnings call Wednesday, Iger attributed the streaming achievement to the “success of our creativity,” citing the company’s 183 Emmy nominations and demand for shows such as Shogun, The Bear and Abbott Elementary. This demand, coupled with new streaming initiatives, including increased sports programming on Hulu and popular movies like Inside Out 2 eventually making their way to the service, makes Iger bullish on the service moving forward and on consumers’ willingness to tolerate price increases.
“What we’re basically seeing is we’re seeing growth in consumption and the popularity of our offerings, which gives us the pricing leverage that we believe we have,” Iger said on the earnings call. “So every time we’ve taken a price increase, we’ve had only modest churn from that, nothing that we would consider significant.”
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