Disney Plus and Hulu reported substantial profitability gains, with Disney's streaming operations earning $336 million in the second fiscal quarter, a notable increase from $47 million the previous year. The recent price hikes and a crackdown on password sharing contributed to an increase of 1 million new Disney Plus subscribers, totaling 57.8 million. Disney CEO Bob Iger mentioned positive signals from Hulu's paid sharing initiative, while also teasing an upcoming standalone ESPN streaming service aimed at customer preferences, set for launch soon.
Disney's streaming business experienced remarkable growth, achieving an operating income of $336 million this quarter, significantly up from just $47 million last year.
The company recently gained 1 million Disney Plus subscribers in the US and Canada, reaching a total of 57.8 million, reflecting the success of recent price increases.
During the earnings call, Bob Iger mentioned that paid sharing on Hulu is "kicking in" as Disney implements strategies to help boost profitability in its streaming services.
Disney's planned standalone ESPN streaming service aims to provide content "however the consumer wants it, wherever the consumer wants it," sharing further details soon.
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