Disney's performance in the last three months of the previous year was significantly enhanced by its streaming services, providing new momentum for transforming Disney+ into an essential entertainment platform.
The Wall Street Journal reports the company's earnings surpassed expectations across several key metrics, including revenue, net income, and streaming profits. The theatrical release of 'Moana 2' contributed to a strong finish for Disney's studio business, highlighting a successful year for its film releases.
Following substantial investments in streaming, Disney has tightened its cost management and refined its strategy. The company now views Disney+ as the central hub for its wide array of content, including sports, news, movies, and TV shows.
In a CNBC interview, Disney's finance chief, Hugh Johnston, described Disney+ as "the portal into all things Disney," emphasizing a customer preference for simplicity.
Traditional media companies like Disney are navigating the shift to streaming amidst a decline in cable subscriptions. Meanwhile, Netflix has solidified its position as the leading global streaming service and is expanding into live programming.
Disney is set to introduce exclusive live sports content on Disney+, including daily episodes of SportsCenter. Additionally, Disney plans to roll out a new ESPN direct-to-consumer service this fall, which will also be accessible via Disney+.
The integration of Hulu and ESPN tiles within Disney+ has led to increased subscriber interaction. Price adjustments during this period have also supported revenue growth from streaming, with Disney+ experiencing fewer subscriber losses than anticipated. By the end of December, Disney+ and Hulu combined had 178 million paid subscribers, up slightly from 177.3 million in the previous quarter.
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