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DIS Aug 2024 105.000 put
- Yahoo Finance
Bob Iger says Disney is 'dramatically' cutting investment in traditional TV
Linear networks have been a pain point for legacy media giants as a dismal ad environment drags on revenue, coupled with the mass exodus of pay TV consumers.
- Reuters
Disney to dramatically cut spending for traditional TV networks
Walt Disney will cut its investment in programming for traditional television networks pretty dramatically as the company navigates the consumer shift to streaming, Chief Executive Bob Iger said on Wednesday. Iger said linear channels such as ABC still serve as an important marketing tool and reach older viewers who are not watching series such as "Abbott Elementary" on Disney's streaming platforms. Still, the goal is to "reduce pretty dramatically our investment in content specifically aimed at those traditional networks," Iger said at the MoffettNathanson’s 2024 Media, Internet and Communications Conference in New York.
- Barrons.com
Disney Sees Six Steps to Make Streaming Profitable
CEO Bob Iger says biggest step to turn streaming into a profitable business will be to increase engagement through a combination of Disney+, Hulu and ESPN on its streaming platform. CFO Hugh Johnston recently called out five or six steps to turn streaming into a growth business, Iger says at a conference. The second step will be to go after password sharing, which he says will start in June and roll out further in September.
