NEWS: Despite Disney+’s Reported LOSSES, Bob Iger Boasts BIG Changes Ahead

The Walt Disney Company is so much more than the Magic Kingdom and Mickey bars. Disney competes at the box office, releases new Disney+ content straight to your TV, and delivers the latest in sports and gaming with major partnerships. There are SO many sectors of the company that it’s easy to forget how much is on Disney’s plate.

Each quarter, Disney shares an update on all the latest happenings within the company. Are the Disney parks continuing to drive revenue? Is Disney+ still CEO Bob Iger’s number one priority? How are the losses looking within the company? Well, Iger answered it all (and neglected to comment on a few other things), and despite Disney’s losses, the boss seems confident.

Disney’s latest earnings call happened on February 7th, 2024. Here, we learned that Disney+ subscribers decreased by 1.3 million. This number was in line with the company’s expectations, and Disney projects a rebound of between 5.5 and 6 million subscribers in the second quarter. That means Disney expects to have more subscribers by March 2024.

Streaming has long been touted as Iger’s biggest priority within the company, so some may view this update as disappointing. But looking at the numbers, between October-December, Disney narrowed the streaming losses of its businesses by $300 million. At the end of the 2023 fiscal year, Disney+ Core had a total of 112.6 million subscribers. What can Disney do to narrow those losses further?

CEO Bob Iger has a plan. For one, Disney and Hulu are set to combine into a one-app experience. Iger praised the beta test for this platform merger as a success. Soon, Disney+ subscribers will be able to watch any and all Hulu content right on the Disney+ app — we expect the change to officially launch in early spring 2024.

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Additionally, Disney is following through on its promise to crack down on password sharing. Those who share accounts with someone outside their household will be charged extra, meaning you’ll be able to share your account for an additional fee. Disney revealed that they expect to implement this change later this year.

Iger stated that he is confident in Disney+’s growth based on the results of other streaming services that have cracked down on password sharing.

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Looking ahead, it seems like Disney may be betting on some new collaborations to bolster Disney+’s success, too. For example, Apple’s new VR headset, the Apple Vision Pro, includes access to several Disney movies. 

Fans can look out for 3D, virtual reality versions of Disney movies like Frozen, Coco, Avatar, Luca, Moana, and more.

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Could this drive new subscribers to Diseny+? We’ll have to wait and see!

In all, despite the losses reported during Disney’s earnings call, it seems like The Walt Disney Company has a lot planned for the future. With new movies and shows on the horizon, plus some new strategic partnerships, Disney is betting big on streaming. Will its plans pay off? We’ll be watching closely. In the meantime, we’re always on the lookout for the latest Disney news, so stay tuned for more.

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Are you a Disney+ subscriber? Let us know in the comments!

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