Disney Believes Its Streaming Business Will Become Profitable By 2024
However, this increase in subscriber count has made no profits for the company. Disney’s streaming losses have doubled year-over-year to $1.47 billion. CEO Bob Chapek believes Disney’s streaming business is at a turning point and would become profitable by 2024. In a statement Chepak said, “The rapid growth of Disney+ in just three years since launch is a direct result of our strategic decision to invest heavily in creating incredible content and rolling out the service internationally, and we expect our DTC operating losses to narrow going forward and that Disney+ will still achieve profitability in fiscal 2024, assuming we do not see a meaningful shift in the economic climate....