Walt Disney Co. reported fiscal fourth-quarter loss on Thursday thanks largely to changes related to the COVID-19 pandemic. Even before the pandemic, Disney had been increasingly focused on its streaming services such as Disney Plus, which launched a year ago and now boasts 73.7 million subscribers, surpassing analysts’ and the company’s own expectations. Their primary focus is on making shows and movies for streaming services. Subscribers to Disney’s main streaming bundle — Disney Plus, ESPN Plus and Hulu — top 120 million. Disney posted a loss of US$629 million, or 39 US cents per share, in the three months that ended October 3.

Source: The Standard November 13, 2020 03:56 UTC