“We’ve moved past the phase of fixing things and are now back to the exciting task of building up our businesses,” said Disney’s CEO Bob Iger, addressing investors and consumers following the release of The Walt Disney Company’s fiscal full year and fourth-quarter earnings.
Iger, who reclaimed the CEO position about a year ago, expressed optimism about the company’s future, emphasizing the strong foundation and significant accomplishments over the past year.
“Our results this quarter reflect the robust nature of our company and the tremendous amount of work we’ve put in over the past year,” Iger stated. Looking ahead, he outlined four key building opportunities crucial to their success:
1. Attaining substantial and sustained profitability in the streaming business.
2. Establishing ESPN as the premier digital sports platform.
3. Enhancing the output and economics of their film studios.
4. Accelerating growth in the Experiences business.
“We’ve already made notable progress on these fronts, and we’re committed to moving ahead with purpose and urgency,” added Iger. the phase of fixing
Iger highlighted that over 50% of new U.S. subscribers in the fourth quarter opted for the ad-supported Disney+ product. He emphasized Disney’s leading position in global streaming advertising technology, unveiling new tools to enhance the platform’s appeal to advertisers, similar to the successful approach taken with Hulu.
On the topic of Hulu, Iger shared plans for a unified one-app experience in the U.S., providing bundle subscribers with extensive general entertainment content via Disney+. A beta version for bundle subscribers is set to launch in December, allowing parents to customize profiles and parental controls before the official release in early spring 2024.
“With our realigned pricing and marketing strategies, a strong focus on technological enhancements, the integration of creative and distribution teams, and a renewed commitment to creative excellence, we are optimistic about the future of our streaming business,” Iger stated. He invited stakeholders to envision the possibilities of a more integrated Disney+, Hulu, and ESPN streaming experience, foreseeing exciting opportunities for both the company and consumers.