The streaming media enterprise is hard. Disney, which has a 30 p.c stake Hulu, noticed losses of $580 million final fiscal yr, based on an SEC submitting.
This was, the SEC submitting states, “primarily resulting from the next loss from our funding in Hulu, partially offset by a good comparability to a loss from BAMTech within the prior yr.”
BAMTech is the streaming expertise that powers ESPN+ and different companies. In whole, streaming accounted for greater than $1 billion in losses for Disney final fiscal yr.
In the meantime, Disney has but to launch its personal streaming service, Disney+, which is slated for late 2019. Disney can also be planning to extend its funding in Hulu, focusing extra on authentic content material and worldwide growth.
As a part of Disney’s buyout of 21st Century Fox, Disney will quickly personal one other 30 p.c of Hulu. If the enterprise goes equally for Hulu this fiscal yr, that can solely improve Disney’s losses.
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