Disney+ Now Has More Than 150 Million Subscribers And Narrows Losses To $387 Million
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It's the season of financial reports once again, and Disney has some interesting data to share for Disney+. The company’s streaming platform gained several million subscriptions in the last quarter, pushing the total to 150 million. The loss of Disney’s streaming side for this quarter is sharply different from the same time last year; Q4’s loss amounted to $387 million, far from the billion range of 2022. The improvement is evident, a result of CEO Bob Iger’s goals for the future.
Current CEO Bob Iger returned to the company in late November 2022, just over a year ago. In a letter to shareholders, Iger explained the progress they have made this year, “Our results this quarter reflect the significant progress we’ve made over the past year. While we still have work to do, these efforts have allowed us to move beyond this period of fixing and begin building our businesses again.”
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He continued, “We have a solid foundation of creative excellence and innovation built over the past century, which has only been reinforced by the important restructuring and cost efficiency work we’ve done this year, and we’re on track to achieve roughly $7.5 billion in cost reductions.” The future projects have a continued alignment with Iger’s goals.
Iger also confirmed that licensing out “core brands” is not in the immediate future, explaining, “Those are real, obviously competitive advantages for us and differentiators. Disney Pixar, Marvel, Star Wars, for instance, all doing very, very well on our platform, and I don’t see why just to basically chase bucks we should do that when they are really really important building blocks to the current and future of our streaming business.” Whether licensing would be pursued or not has been a question for a while; the current answer is firm, indicating a disinterest. The overall future for Disney+ is looking sharp under Iger’s direction, with the current progress being undeniable.
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