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I’m not sure what the exact cause is, but for some reason, they lose billions on streaming (page 24): https://thewaltdisneycompany.com/app/uploads/2023/11/Q4_F

• nonethewiser 3y ago
  Because they give lots of subscriptions away for free and the paying customers are paying a subsidized price. All so Disney can increase market share. This is why you cant just point to subscriber count as a success indicator.
• bombcar 3y ago
  How much of this is real losses and how much is accounting tricks by licensing content from themselves?
  • deleted 3y ago
    [deleted]
  • lotsofpulp 3y ago
    I would guess none based on the breakdown on page 10. They would have written in the “Direct to consumer” section that licensing costs were the reason for the losses. Instead, they specified that technology costs and costs to create the media were the tradings for the losses.