Disney profit disappoints as cable TV woes, hurricanes take toll

Kelly Massey
November 11, 2017

If you feel that Netflix charges users a bit too much for its streaming content, don't worry, Disney's CEO thinks so too.

According to The Wrap, Disney CEO Bob Iger says "Our plan on the Disney side is to price this substantially below where Netflix is", which now charges between $7.99 and $13.99 a month in the United States, and between £7.49 - £8.99 in the UK.

"We also believe that our brands and our franchises really matter, as we've seen through Netflix and all other platforms". Iger's comment does echo Netflix's strategy, which had hiked the price recently noting that pricing is all related to volume.

Before Disney acquired Lucasfilm, George Lucas and Rick McCallum had been working a live action TV series with the title Star Wars: Underworld.

Disney's Parks and Resorts segment, however, continues to show growth with revenue increasing 6% to US$4.7 billion, and segment operating income rising 7% to US$746 million. Iger's newsy bombshells late Thursday sent slumping shares reversing higher, despite the media conglomerate's unexpected profit and revenue declines that initially hit the stock. Iger said the company just closed a deal with Rian Johnson, who directed the installment that will be released in December, to develop an entirely new Star Wars trilogy.

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Content Filtering: The service will not feature "R" rated content. TV series, based on the classic Pixar movies, and a High School Musical TV series.

Indeed, the new movies will be completely separate from the so-called Skywalker saga on which the current films are based.

Device support is unclear, though Disney has referred to the upcoming service as an "app" on several occasions, suggesting it could be streamed to smartphones, tablets, computers, TVs, and other internet-connected devices capable of running applications.

"As I've said earlier, we're going launch this thing pretty aggressively", he said on the call Thursday.

The service will launch in the US. It will also include the studio's library of content, including Disney and Pixar movies, as well as Disney Channel, Disney Junior and Disney XD TV. For reference, the cost of a Netflix subscription now ranges from $8 to $14 a month.

Other reports by Guamnewswatch

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