New York CNN —Disney managed a rare feat for a legacy media company: Its streaming service actually turned a profit — with some caveats.
It was Disney’s worst stock trading day in 18 months.
That’s a lot of money, but it is a pretty huge improvement over the $659 million loss the collective streaming business reported in the same period a year ago.
Streaming is new(ish) and very different beast from the traditional cable TV model Disney and other media giants like Paramount, Viacom and Warner Bros.
“It is a very tough business,” Verna said.
Persons:
CNN Business ’, New York CNN — Disney, ” Paul Verna, ” Disney, ” Verna, Bob Iger, It’s, ” “ Indiana Jones, ”, Iger, Brian Mulberry
Organizations:
CNN Business, New York CNN, Disney, ESPN, Apple, Netflix, Paramount, Viacom, Warner Bros ., Zacks Investment Management
Locations:
New York, “, India