Disney Reaffirms Outlook For Streaming Profitability By 2024; CEO Bob Iger Calls The Business “My No. 1 Priority” But Vows Not To “Abandon” Movie Theaters Or Linear TV
deadline.comDisney CEO Bob Iger on Wednesday reaffirmed the company’s longstanding guidance to investors that its streaming business will become profitable by the end of fiscal 2024.
Speaking on the company’s quarterly earnings call, Iger called streaming “my No. 1 priority” and said he has “drilled down into every facet of our streaming business” since returning as CEO last November.
Multiple times on the call, analysts pressed Iger on how he will manage the balance between declining linear TV networks and streaming offerings whose economic models are still coming into focus.
Last September, when he was still an independent media figure and not yet back in the corner office in Burbank, Iger had gained attention with a stark vision for TV outlined at the Code Conference. “Linear TV and satellite is marching towards a great precipice and it will be pushed off,” he said, adding, “I can’t tell you when, but it goes away.” RELATED: Disney Earnings Report & Reorganization – Full Coverage The exec picked up on that theme today, telling analysts he has been “watching this very carefully for a long time.
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