Disney’s streaming operation lost $512 million in the most-recent quarter, the company said, bringing total streaming losses since 2019, when Disney+ was introduced, to more than $11 billion.
Disney+ lost roughly 11.7 million subscribers worldwide in the three months that ended July 1, for a new total of 146.1 million.
(Last year, Disney lost a bid to renew the expensive rights to Indian Premier League cricket matches.)
To make streaming profitable, Mr. Iger, Disney’s chief executive, has shifted the focus at Disney+ away from brisk subscriber growth, which requires expensive marketing campaigns.
Instead, Disney has been trying to make more money from the Disney+ subscribers it already has.
Persons:
Robert A, —, Disney, Iger
Organizations:
Disney, Indian Premier League cricket
Locations:
India