Media empire must sustain its costly online push while its lucrative legacy businesses decline source: ( Financial Times.com ) 2020 has hit the film and television industry hard. Although compensating for distribution through online streaming sites appears to be a partial solution, Disney execs including Bob Iger explain why streaming is not saving the day... December 06, 2020 Anna Nicolaou writes: The Walt Disney Company, in its 97th year, has decided its television future lies in streaming . But what happens to its past? Disney Plus has been a knockout success, signing up more than 70m subscribers in its first year to cement the Mickey Mouse empire as a serious competitor to Netflix, whose boss Reed Hastings had expected its new rival to secure 20m customers “at best”. As the group re-engineers itself around video streaming, giving up lucrative licensing revenue, it must also manage the decline of its ageing TV channels and movie studios. Taking the long view, Bob Iger , ex
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