) CEO Bob Iger said the media giant plans to "pretty dramatically" reduce its investments in linear television as the company works to make its streaming unit a consistently profitable division.
One example of this duality includes placing episodes of "Grey's Anatomy" and "Abbott Elementary," which air on ABC, onto the Hulu platform "pretty quickly" — or in some cases simultaneously. Although the executive said he still expects erosion when it comes to linear TV subscribers, the segment will "continue to drive profitability because we're managing our costs so effectively."
Oscars show host Jimmy Kimmel poses with Bob Iger at the Governors Ball following the Oscars show at the 96th Academy Awards in Hollywood, Los Angeles, California, U.S., March 10, 2024. REUTERS/Mario AnzuoniLinear networks have been a pain point for legacy media giants across the board as a dismal ad environment drags on revenue, coupled with the mass exodus of pay TV consumers.Prior to the cord-cutting phenomenon, linear advertising and cable affiliate fees had consistently boosted revenues.