TECH - Bob Iger Says Disney Slashed Traditional TV Spending 'Pretty Dramatically' As Streaming Takes Center Stage: 'Feel Comfortable With Our Hand Right Now…' | Benzinga
To prioritize streaming services, Walt Disney Co (NYSE:DIS) has significantly reduced its investment in traditional television networks, CEO Bob Iger revealed on Wednesday.
What Happened: Speaking at Moffett Nathanson’s 2024 Media, Internet, and Communications Conference in New York, Iger said that conventional mediums like ABC will continue to function as vital marketing avenues. They will enable the engagement of older audiences who aren’t tuning into series like “Abbott Elementary” on Disney’s streaming services, reported Reuters.
However, the company has reduced “pretty dramatically our investment in content specifically aimed at those traditional networks.”
“We feel comfortable with our hand right now, because we're using those networks efficiently and effectively,” he stated.
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