Bob Iger Believes Disney Invested Too Much In Streaming Launch
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During an investor conference, Disney CEO Bob Iger stated how the company’s desire to push into streaming started as a major loss. The aggressive content push meant they “tried to tell too many stories” which meant they “invested too much, way ahead of possible returns”. Such is “what led to streaming ending up as a $4 billion loss.”
With the likes of Netflix and Prime Video already established, Iger admits that they wanted the volume of content at the cost of its quality, “which turned out to be a mistake.” The operations of streaming content is now making sure there’s quality. “Good isn’t good enough. It has to be great. Just keep driving that, but if you force them to make too much, then that becomes almost impossible to do.”
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When Iger returned to the helm of Disney in 2022, he looked at ways to improve things, including a potential sale of linear TV assets. That has been revised, as those assets can be used to engage consumers. Those assets are now being managed seamlessly with streaming platforms, “So you have the same executives managing both, and their goal is to drive basically bottom line growth and success.”
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Source: THR
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