Despite Incredible Growth, Disney's Streaming Business Remains Unprofitable
Streaming was hailed as the bright spot of Walt Disney's (NYSE: DIS) fiscal third quarter. And it was. With the COVID-19 pandemic still going strong, keeping most movie theaters shuttered and most patrons away from theme parks, direct-to-consumer was the only one of Disney's segments to grow its top line during the three-month stretch ending in June.
However, despite ending the quarter with more than 57 million Disney+ subscribers -- in addition to more than 35 million paying Hulu members -- Disney's direct-to-consumer business remains in the red. In fact, its losses have remained uncomfortably significant.
Source Fool.com
