And here we are. The LAST quarterly earnings call of 2023.
Disney World
November 8th marked the fourth quarter earnings call of 2023, where we learned where Disney stood financially on many fronts, as well as what the company expects for 2024. Throughout 2023, Disney CEO Bob Iger has shared the company’s vast efforts to improve streaming platforms, including Disney+, and that the company believes that the streaming industry is where the future success of the company lies. Now, at the end of the year, Iger has shared updates on what is to come.
Well, things are looking positive! According to Bob Iger, Disney+ subscriber growth throughout the past quarter and 2023 as a whole beat estimates.
©MasterClass
What’s even better is that if the trend continues, the streaming business will reach profitability in the fourth quarter of 2024.
©Disney
Iger shared that throughout the year, there was a big increase in subscribers. The last quarter was a great one, with the addition of 7 million core Disney+ subscribers, and the addition of content like Guardians of the Galaxy 3, Elemental, and The Little Mermaid.
©Disney
As far as Disney’s acquisition of Hulu, Iger shared, “The floor price is public and stated. We will be writing a check for them. There will be an evaluation process — we expect it to be fair and we’re not concerned about the price we’ll be paying.”
©Hulu
He further went on to share that in December, a beta version of the combined Hulu and Disney+ app will be tested. This is expected to create more engagement that will not only appeal to advertisers, but is expected to reduce the cost of customer acquisition and “decrease churn.”
Magic Kingdom
As far as ad-supported streaming tiers, Iger said that he believed advertiser-supported streaming services will be important growth initiatives for the company. Disney+ has even implemented some advertiser-targeting tools. Advertising is cup overall for the company!
©Disney
Wow! Well done, Disney! We’re looking forward to what 2024 will bring. We’ll continue to keep you updated with all things Disney news, so make sure to follow along so that you don’t miss a thing.
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The post NEWS on Bob Iger’s Number One Priority at Disney first appeared on the disney food blog.