Disney’s streaming growth slows as pandemic lift fades, shares fall | Malay Mail

Friday, 14 May 2021 07:07 AM MYT

Disney is focusing on quickly building its streaming service to challenge Netflix Inc as audiences move away from cable TV. The company’s popular theme parks remain in recovery mode with attendance limits due to the Covid-19 pandemic. Disney plans to launch Disney+ in Malaysia on June 1 and in Thailand on June 30, executives said on a call with analysts.

Operating income at Disney’s media division rose 74 per cent from a year earlier to US$2.9 billion as profit rose at domestic and international TV networks. The streaming media unit lost US$290 million, less than half of what Wall Street expected, thanks in part to higher advertising revenue at Hulu and ESPN+ income from Ultimate Fighting Championship pay-per-view events.

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