The streaming future Disney promised is finally here as cable TV decays [CNBC]
Warner Bros. Discovery, Inc. - Series A (WBD)
Company Research
Source: CNBC
time in the second quarter, losing just $18 million between Disney+, Hulu and ESPN+. That's improvement from a loss of $659 million a year ago. Stripping out ESPN+, Disney+ and Hulu actually made money in the quarter — $47 million. Last year in the second quarter, Disney+ and Hulu lost $587 million. The thesis among all major legacy media companies has been that streaming will eventually take over for cable TV as the primary money-making engine. That's why Disney, Paramount Global, Warner Bros. Discovery and Comcast 's NBCUniversal all built their own subscription streaming services. That hasn't happened yet, but this quarter finally suggests that moment is upon us. It's not just that Disney nearly made money in streaming — it's that the company's traditional linear TV results were awful. For years, Disney held back on making ESPN available outside of the cable bundle because of how lucrative the sports network was inside the walled garden of traditional TV. Those days are als
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- 5/17/24 - Form 8-K
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- 5/14/24 - Form 8-K
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