Bob Chapek Talks Streaming Headwinds, Next Generation Storytelling And Virtual Theme Parks After Earnings Misfire Spooks Wall Street
deadline.comDisney CEO Bob Chapek called Disney+ a “lifestyle portal for Disney fandom” and streaming the nexus of a “reengineered” company that would never have survived and thrived for a century if it didn’t take bold swings.
A Q&A at the Paley Center for Media’s International Council Summit in New York called “The Walt Disney Company: The Next 100 Years” took place as Disney stock tanked.
The selloff followed the release of quarterly financials yesterday showing steep losses from streaming, as Wall Street is now looking for the opposite. “Given our three year journey, we’re extremely pleased with where we find Disney+, going from nothing to over 160 million households, but at the same time realize that there is increasing desire by our investor base to make sure that there is some there there coming out of it,” Chapek said.
And there is one, he promised. Pricing started low and can rise, boosting average revenue per user, and costs can be managed.
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