Disney announced fourth-quarter and full-year financial results Thursday, ahead of the launch of Disney+.
Walt Disney Co. reported fourth-quarter earnings that topped Wall Street expectations, capping a year of dramatic change for the company ahead of the launch of its all-important new streaming service.
Executives have been clear that the investments in streaming are not about short-term profits but about positioning Disney for continued success in the fast-changing entertainment business. The company expects Disney+ to be profitable by fiscal 2024 and amass 60 million to 90 million subscribers worldwide.Heavy spending on streaming is necessary to make a success out of Disney+, which will charge subscribers $6.99 a month, or $70 for those who sign up for a full year.
Disney shared more details about the international rollout of Disney+, which will launch in Australia and New Zealand on Nov. 19 after it goes live in the U.S., Canada and the Netherlands next week. Disney+ will debut in Western European countries including Britain, France, Germany, Spain and Italy on March 31, Iger said.
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