Disney CEO Bob Iger announced plans to combine Disney+ and Hulu into one app.
In this photo illustration, a hand holding a TV remote control in front of the Disney+ logo on a TV screen.Disney said it plans to combine Disney+ and Hulu into one app for U.S. subscribers by the end of 2023.
In an email to employees following the call, Iger said the move is a "logical progression" of Disney's direct-to-consumer offerings. Ongoing strength at its theme parks and an improving streaming business propelled Disney to higher profits and revenue in its fiscal second quarter. For the three months ended April 1, Disney earned $1.27 billion or 69 cents per share. That compares with $470 million, or 26 cents per share, a year ago.
In Disney's fiscal first quarter, sales at its parks, experiences and products division grew 21%, while revenue for the unit housing its movie business inched up 1%.
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