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Disney is losing $1 billion to streaming

Company is preparing to launch its new streaming service Disney+ later this year

The Walt Disney Company has revealed it lost over $1 billion in equity investments to streaming in the year ended 30th September.

In a filing with the SEC, the company reported that its investment in Hulu was the primary contributor to a $580 million loss in equity investments.

Disney also lost $469 million in its direct-to-consumer segment, largely from BAMtech, the streaming technology behind ESPN+ and other OTT services.

This comes as the company is preparing to launch its new streaming service Disney+ later this year.

Disney’s media networks, which include ESPN, ABC, Disney Channel and others, brought in $7.3 billion in operating income for 2018.

 

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