DIS - Disney CEO Bob Iger Just Made a Stunning Admission About Netflix. Here's What Investors Need to Know.
2024-03-18 08:00:00 ET
In an interview earlier this month, CEO Bob Iger spoke at length about the state of affairs at Walt Disney (NYSE: DIS) . On the topic of streaming, he noted that when Disney+ launched in 2019, the priority was adding viewers at scale. The importance of that can't be overstated as Disney+ signed more than 10 million subscribers in the first 24 hours, quickly growing to 100 million.
Image source: Disney.
That said, Iger admitted that the technology was lacking in a number of ways. The platform wasn't built to control customer acquisition and retention costs or increase viewer engagement, and it wasn't conducive to controlling marketing expenses. Disney is currently working to correct those shortcomings, with Iger making this stunning admission: "The gold standard there is Netflix ." He added:
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Disney CEO Bob Iger Just Made a Stunning Admission About Netflix. Here's What Investors Need to Know.