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Disney CEO Bob Iger Reveals New Details About Upcoming Streaming Service

Disney CEO Bob Iger Reveals New Details About Upcoming Streaming Service”

Iger said he did not believe the launch of an OTT TV service would complicate Disney's relationship with its distribution partners and said traditional distributors were "very, very interested in distributing our D2C products" just as they increasingly distribute Netflix.

While it hasn't been rolled out yet, Disney's streaming service is already generating quite a stir.

U.S. regulators approved the deal in May. Disney is awaiting regulatory approval overseas.

Iger, on a post-earnings webcast, said growth of smaller channel bundles delivered online had helped make up for customers dumping larger cable packages. With a rumored $7.99 price point we know the companys goal is to at least be cheaper than would be rival Netflix, who is now airing Disney properties until the end of the year.

Overall in the quarter, Disney reported net income rose 23 percent, to $2.92 billion, or $1.95 a share.

Due to prior licensing deals, Disney's initial offerings will pale in comparison to those of Netflix. That ultimately gives Disney more data to gauge its audience. Exactly what that means is not set in stone. Netflix plans range from $8 to $14 (approximately Rs. 960) a month.

The untitled Star Wars live-action series does not yet have a release date but the Disney direct-to-consumer platform will launch in late 2019. Every MCU movie now hosted on Netflix will be leaving the site, and the next film in the franchise, next March's Captain Marvel, will be the first to head directly to Disney's site instead of Netflix.

Disney is producing nine different movies for the streaming service with budgets ranging from $20 to $60 million. Adjusted earnings per share totaled $1.87, less than the Street's expectation of $1.95.

Revenue rose 7 percent to $15.23 billion (approximately Rs. 1.04 lakh crores) in the period, short of the $15.49 billion (roughly Rs. 1.06 lakh crores) expected by four analysts surveyed by Zacks.

That would put the series as one of the priciest TV shows around in a world of rapidly-spiralling TV production costs, as prestige dramas become grander in the age of peak TV.

In the Mouse House's media networks division, which includes ESPN and ABC, operations eked out a 3 percent gain in total revenue but higher programming fees, including for the National Basketball Association, resulted in a 6 percent decline in operating profit.



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