As a seasoned gamer with a penchant for all things Disney and streaming services, I can’t help but feel a surge of excitement at the prospect of Disney+’s continued growth. With a rich library of content that includes Emmy-nominated shows like Shogun, The Bear, and Abbott Elementary, not to mention upcoming blockbusters like Moana 2, Mufasa: The Lion King, Captain America: Brave New World, and Snow White, Disney+ seems poised to dominate the streaming landscape.
Disney reported its first streaming profit on Wednesday, and with planned price hikes and an expansion of content, CEO Bob Iger anticipates further growth in the future.
During a recent earnings discussion, Iger emphasized that the streaming success is largely due to our creative prowess, pointing out the company’s 183 Emmy nominations and high demand for series like Shogun, The Bear, and Abbott Elementary as evidence. This strong demand, combined with new streaming strategies, such as enhanced sports programming on Hulu and upcoming movies like Inside Out 2 being added to our service, has Iger feeling optimistic about the future of our service and consumers’ readiness to accept price increases.
“On the call, Iger stated that our products are becoming more popular and in demand, which allows us to adjust prices if needed without causing a substantial loss of customers.”
As a gamer, I’ve got some news about my favorite streaming services. Starting October 17th, both the ad-supported and ad-free tiers on Disney+ will go up by $2 each. However, the Disney Bundle, which combines the ad tiers of Disney+ and Hulu for just $10.99 a month, still seems like a great deal compared to paying for each service separately, especially since Disney now has full control over Hulu following their agreement with Comcast.
Iger additionally discussed Disney’s forthcoming movie lineup, featuring titles like “Moana 2,” “Mufasa: The Lion King,” “Captain America: Brave New World,” and “Snow White,” among others. These movies are expected to propel the streaming service once they have been shown in cinemas post-release.
“Iger stated during the call that our aim is to boost user interaction on the platform. This involves presenting a broader range of content, such as news and sports (like ESPN), and offering flexible purchasing options across all of our content sources. We’re quite optimistic about this venture’s future and expect it to expand significantly in fiscal 2025.”
During the earnings discussion, Disney’s Chief Financial Officer, Hugh Johnston, mentioned that bundling services has effectively reduced customer attrition. Moreover, he highlighted a robust ad market, observing a 20% increase in advertising sales for their Direct-to-Consumer streaming platform.
Furthermore, the company initiated a clampdown on password sharing in June, with a wider implementation scheduled for September. This move is anticipated to boost earnings. Interestingly, Iger mentioned that there has been no negative response whatsoever to the password sharing alerts that have already been sent out. He also shared that the company is focusing on enhancing its content recommendation systems and marketing strategies related to streaming.
“Not too long ago, we were losing a billion dollars every three months, but now we’re earning profits, and we anticipate this trend will continue, leading us towards and eventually exceeding the high profit margins in double digits we’ve mentioned before,” Johnston expressed.
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2024-08-07 16:54