Disney's Streaming Strategy Is Paying Huge Dividends
Earlier this week, Walt Disney (NYSE: DIS) reported a $4.7 billion net loss under generally accepted accounting principles (GAAP) for the third quarter of fiscal 2020. Excluding special items, earnings per share plunged 94% year over year to just $0.08.
Despite the huge negative impact of the COVID-19 pandemic on Disney's results, the third quarter should be considered a success for the House of Mouse. That's because the pandemic has helped the global media titan accelerate the already-rapid growth of its direct-to-consumer streaming initiatives, putting it on a path to rival Netflix (NASDAQ: NFLX) in the streaming arena. Let's take a look.
Disney's direct-to-consumer efforts reached a major milestone last quarter. The company surpassed 100 million subscribers across all of its streaming services, ending the period with 101.5 million subscribers across its Disney+, Hulu, and ESPN+ services.
Source Fool.com
