Disney Working to Get Streaming Platforms on Technical Par With Netflix, Iger Says: ‘We Need to Be at Their Level’
variety.comTodd Spangler NY Digital Editor Disney CEO Bob Iger acknowledged that the company is behind Netflix in terms of technical capabilities — and that the Mouse House is in the process of catching up. “We need to be at their level” of technical capability, in order to reduce marketing expenses and cut churn rates, Iger said about Netflix, speaking Tuesday at the 2024 Morgan Stanley Technology, Media & Telecom Conference.
Iger reiterated that Disney is on track to achieve profitability in the streaming business — which includes Disney+, Hulu and ESPN+ — by the fiscal quarter that ends September 2024.
But, he said, “It’s not just about profitability. It’s about turning [streaming] into a real growth engine for the company.” Long term, Hulu fits “very well” into Disney’s streaming plans, Iger commented, “even though we may not turn it into a global brand” (outside the U.S., the company distributes Hulu content under the Star brand).
Hulu has “built a good brand” with “great content,” Iger said, calling out FX’s “The Bear” and “Shōgun.” Disney is in the midst of finalizing its buyout of NBCUniversal’s 33% stake in Hulu.
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