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The Town with Matthew Belloni
Disney’s Streaming Turnaround and Netflix’s Boxing Debut
Nov 19, 2024
Lucas Shaw, a Bloomberg reporter specializing in media and entertainment, joins to discuss Disney's profitability turnaround in streaming under Bob Iger's leadership. They explore strategic moves like cost reductions and an advertising tier that signal a brighter future for the company. Shaw also delves into Netflix's recent boxing debut featuring Jake Paul and Mike Tyson, highlighting the technical hiccups during the live broadcast. The conversation wraps up with insights into Conan O'Brien's potential impact on the upcoming Oscars ratings.
33:08
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Quick takeaways
- Disney's return to profitability in streaming under Bob Iger highlights the essential role of strategic content decisions amid ongoing industry challenges.
- The unpredictable nature of Netflix's live events, illustrated by the Jake Paul vs. Mike Tyson boxing match, underscores potential risks in their streaming expansion efforts.
Deep dives
Disney's Streaming Turnaround
Disney's streaming business has undergone a significant turnaround since Bob Iger returned as CEO, moving from major losses to profitability. In fiscal 2022, the company reported a staggering $1.5 billion loss in a single quarter for its streaming services, including Disney+, Hulu, and ESPN+. By making strategic changes, such as cutting unprofitable shows, shifting projects to theatrical releases, and introducing an ad-supported tier, Disney has since transformed its streaming financials. The company reported that its overall streaming business generated $321 million in profit for the recent quarter, indicating promising potential for future growth.
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