Disney CEO Robert A. Iger is faced with the task of turning Disney’s streaming division into a profitable business while addressing issues in its traditional television business. The company’s streaming operation, Disney+, lost $512 million in the most recent quarter, bringing total streaming losses since 2019 to over $11 billion. Disney+ also lost 11.7 million subscribers in the same quarter, due to a decline in the low-priced version of the service in India. To make streaming profitable, Iger has shifted focus towards making more money from existing Disney+ subscribers, raising the monthly price for access to an ad-free version of the service and planning further price increases. Meanwhile, Disney’s traditional television channels are facing challenges due to cord-cutting, high sports programming costs, and decreasing ad sales. In response, Disney is considering selling a stake in ESPN and exploring partnerships with sports organizations. Iger has also hired former Disney executives to consult on ESPN strategy and potential deals. Disney is also dealing with strikes by unionized screenwriters and actors, who are demanding higher pay from streaming services. Despite these challenges, Disney reported some positive results, including lower streaming losses and increased profitability in its theme park division.
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