Disney’s streaming business turned a profit for the first time
Disney’s streaming business has finally become profitable. In its Q3 earnings results released on Wednesday, the company reported making $47 million off Disney Plus, Hulu, and ESPN Plus.
Like other streamers, Disney has struggled with making its streaming business profitable. At the same time last year, Disney Plus, ESPN Plus, and Hulu recorded a $512 million loss. Things started to turn around last quarter when both Disney Plus and Hulu posted a profit, but losses at ESPN Plus prevented Disney’s overall streaming business from crossing the line into profitability.
“This was a strong quarter for Disney, driven by excellent results in our Entertainment segment both at the box office and in DTC, as we achieved profitability across our...