Nov 8, 2022
Disney says streaming business at 'turning point'
Disney's streaming business has continued to grow - but its losses are rising too. The media giant said it had added more than 12 million subscribers to its Disney+ streaming platform in the three months ended in September. Disney has poured billions of dollars into its streaming platforms in recent years, remaking itself from a company rooted in traditional television and movies into one of the streaming industry's major players. The company now counts more than 235 million subscriptions across its three streaming platforms, which also include the sports-focused ESPN+ and wider enterainment site Hulu. Paolo Pescatore, an analyst at PP Foresight, said it was a "Disappointing quarter" that "Underlines the challenges a media giant faces in pivoting towards a streaming future".
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