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Disney’s Streaming Business ‘Gets Closer’ to Profitability
Streaming business has hit a ‘major milestone’, says Disney CEO
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Disney Plus and Hulu reported their first-ever profits on Tuesday.
In its earnings report released yesterday, Disney revealed that its two streaming services turned a combined $47 million profit last quarter — a major turnaround from the $587 million loss they reported during the same period last year.
However, not all of the company’s streaming services are in the black. ESPN Plus, for example, lost $65 million.
Despite this, the entertainment giant says it expects its streaming business to become profitable in the fourth quarter of this year.
“Our results were driven by the strength of our experiences, our parks and our streaming business, which set a new milestone with Disney+ reaching profitability,” Disney CEO Bob Iger said, according to The Verge. “We expect streaming to be a significant driver of our future growth.”
See also: Saiba as séries e filmes que estreiam na Disney+ em maio (Portuguese version)
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