Disney beats forecasts as streaming struggles improve
Disney CEO Robert Iger speaks onstage during The New York Times Dealbook Summit 2023 – Copyright AFP Patrick T. Fallon
Glenn CHAPMAN
Disney on Wednesday reported higher than expected profit in the final three months of last year as it strives to adapt to a shift from television to streaming.
During the earnings announcement, Disney chief Robert Iger also revealed that the entertainment giant is acquiring a “small equity stake” in Fortnite-maker Epic Games, and will release a sequel to its high-grossing animated film “Moana”.
Iger also boasted that Disney+ streaming service will be the exclusive online stage for Taylor Swift’s recent concert film starting on March 15.
“Audiences are going to absolutely love the chance to relive the electrifying Taylor Swift Eras tour whenever they want,” Iger said of bringing it to Disney+.
Disney is looking to tap into the passion for video games in general and “Fortnite” in particular with a $1.5 billion stake in Epic, according to Iger.
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