Sizing up Disney’s pivot to streaming during the company’s fiscal third-quarter earnings call, CEO Bob Chapek said, “We’re in the first inning of the first game of a long season.”The company got into the direct-to-consumer game in earnest less than two years ago, Chapek maintained.
In that time, Disney+ has expanded to 61 territories, but the company is continuing to learn and maximize profits from bundling and different approaches to distribution and marketing, he said. (Reflecting the company’s new orientation, it disclosed in an SEC filing after the call that it had spent $350 million to buy out the National Hockey League’s stake in its streaming unit.)The streaming numbers beat Wall Street expectations, with Disney+ reaching 116 million
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