Disney Shifts Focus to Streaming Profitability, Cuts Traditional TV Investments

CEO Bob Iger outlines strategy to enhance user experience and reduce costs, aiming for streaming profitability by year-end.

Disney will significantly reduce spending on traditional TV networks like ABC, reallocating resources to streaming services.
Iger emphasizes the need for advanced technology and personalized user experiences to drive streaming engagement.
Disney plans to integrate ESPN+ into Disney+ and crack down on password-sharing to boost profitability.
The company acknowledges past overspending on streaming content, which led to substantial financial losses.
Disney aims to achieve profitability in its combined streaming business by the fourth quarter of 2024.