SAN FRANCISCO, United States - Disney's streaming service has attracted nearly seven million new subscribers, the company said Wednesday, reversing a period of decline that had raised doubts about its rivalry with industry leader Netflix.
Those efforts saw Disney's streaming losses contract to $387 million in the most recent quarter, down from $1.47 billion a year earlier. "While we still have work to do, these efforts have allowed us to move beyond this period of fixing and begin building our businesses again," Iger said. In all, the entertainment giant posted sales of $21.24 billion for the period, up slightly on the previous year, according to its earnings release on Wednesday.
Both services, like their competitors, were hit by a historic writers' and actors' strike this summer.