Sunday, January 27, 2019

Disney Lost More Than $1 Billion on Streaming Last Year

Wow! It's not like the company can't afford it but that's still a ton of money. It will be interesting to see how well the service does once it's finally launched.

Hulu was the biggest contributor to the mounting losses in its equity investments, the result of increased content spending for its 30% stake in the streaming service. The company reported a loss of $580 million, 37% worse than the $421 million it lost in the prior year. That wasn't the only contributor to the streaming deficit. Disney's newly formed direct-to-consumer segment lost $469 million, nearly five times the losses it incurred in 2017.