Disney's combined streaming business, which consists of Disney+, Hulu and ESPN+, turned a profit for the first time — and it happened a quarter earlier than the company had expected.
Executives on Wednesday's earnings call touted the progress of Disney's streaming business toward profitability, a goal for all media companies as they look to chase customers switching to streaming.
The combined streaming business posted an operating profit of $47 million compared with a loss of $512 million in the same quarter last year.
Meanwhile, in May, Disney highlighted a slightly different metric, noting that Disney+ and Hulu together turned a profit, but when combined with ESPN+, the streaming businesses suffered a loss.
"I feel very bullish about the future of this business," Iger said during the call.
Persons:
Bob Iger, Hulu, Jaque Silva, Iger, We're, Hugh Johnston, Johnston
Organizations:
Disney, Hulu, ESPN, Getty, Total Hulu, Revenue, Netflix, Warner Bros . Discovery, Fox, Star India
Locations:
PARAGUAY, India