Summary Disney CEO Maintains Linear Remains 'Highly Profitable' But Cord-Cutting Trends Are 'Unmistakable' www.thewrap.com
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One Line
Disney CEO Bob Iger recognizes the cord-cutting trend, but emphasizes that linear networks remain highly profitable and a crucial revenue stream for Disney.
Slides
Slide Presentation (10 slides)
Key Points
- Disney CEO Bob Iger maintains that linear assets are still highly profitable for the company
- Cord-cutting trends are impacting Disney's revenue declines in both broadcast and cable
- Disney is considering strategic options for its linear assets, such as ABC
- The company will rely on its television studios to continue providing exceptional content for audiences
- Linear networks need to provide content to fuel Disney's growth business in streaming
- Disney's domestic channels saw a 4% decrease in revenue and a 14% decrease in operating income during the third quarter
- Lower results from ABC and owned television stations contributed to the decrease in broadcast revenue
- Higher sports programming and production costs, as well as lower affiliate revenue, impacted cable operating income
Summaries
24 word summary
Disney CEO Bob Iger acknowledges the cord-cutting trend but says linear networks are still highly profitable and a significant source of revenue for Disney.
82 word summary
Disney CEO Bob Iger addressed the future of linear assets and revenue declines during the company's third quarter for 2023. While linear remains highly profitable for Disney, the trends fueled by cord-cutting are unmistakable. Iger stated that the company
Disney CEO Bob Iger acknowledges the undeniable trend of cord-cutting but maintains that linear networks remain highly profitable. Despite the rise of streaming services, traditional television is still a significant source of revenue for Disney. Iger believes that the value of linear networks