Web Desk
ISLAMABAD: Walt Disney Co Chief Executive Officer (CEO) Bob Iger stated on Monday that one of his key goals is to make the company’s streaming business successful.
Iger is responsible for going all-in on Disney’s streaming and introducing its flagship service. However, he acknowledged that success is now measured differently. Investors on Wall Street increasingly prioritize profitability rather than just subscriber growth.
Disney joins a growing list of media companies looking to expand their streaming services without jeopardizing their film or television businesses.
Disney CEO’s statement
The CEO said that instead of focusing on aggressive marketing, spending on content, and “chasing” subscribers, the company had to start chasing “profitability,” according to Reuters. And to achieve that, according to Iger, they have to “take a very, very hard look” at their business cost structure.
Bob Iger served as CEO from 2005 to 2020, transforming the firm into a media behemoth. The firm grew under ex-CEO Bob Chapek until the most recent earnings report. Iger will manage the corporation for the next two years and assist in searching for his successor.
Recently Iger took to Twitter to express satisfaction over his return, “Filled with gratitude and excitement to be back @WaltDisneyCo!” said the CEO.
