Disney quarterly profit falls short as streaming costs rise

Disney quarterly profit falls short as streaming costs rise

Will the MCU films be enough to sway you over to Disney's eventual streaming service? This, as Disney CEO Bob Iger noted, will be reflected in the price.

Actor and director Jon Favreau (Iron Man, The Jungle Book) is now hard at work executive producing and writing a live-action Star Wars TV series for Lucasfilm and Disney's new direct-to-consumer streaming service.

United States regulators approved the deal in May. With the Disney-branded entertainment service, Disney will have more control over its movies and TV shows from creation to distribution.

According to the outlet, Captain Marvel - a film that's set to hit theaters on March 8, 2019 - will be the first Marvel movie that will not head to the Netflix streaming platform following its theatrical, digital, and physical release.

The report also details other Disney movies destined to debut on the service, including the $45 million Timmy Failure being directed by Spotlight's Tom McCarthy, remakes of Lady and the Tramp and The Sword in the Stone, Noelle starring Anna Kendrick, the sled dog movie Togo, a remake of Three Men and a Baby, The Paper Magician and Stargirl.

Saudi billionaire takes stake in Snap
Snap lost about 1 million users in each of its three geographic reporting regions: North America, Europe and rest of world. The company also grapples with heightened competition from Instagram, which regularly copies its most popular features.

With Disney launching its very own streaming service sometime next year, we know very little about what the industry has taken to calling “Disneyflix”. In the piece we get some insight into what Strauss has planned for the service when it launches next year, including one of its most valued properties, Star Wars.

Disney shares slipped $1.06 in after-hours trading, to $115.50. Adjusted earnings per share totaled $1.87, less than the Street's expectation of $1.95.

Revenue rose 7 percent to $15.23 billion (approximately Rs. 1.04 lakh crores) in the period, short of the $15.49 billion (roughly Rs. 1.06 lakh crores) expected by four analysts surveyed by Zacks.

Disney's movie studio enjoyed blockbuster success with "Avengers: Infinity War" and "The Incredibles 2".

Operating profits in its consumer products unit, the smallest division, slipped 10 percent on an 8 percent drop in revenue - due mainly to lower licensing revenue from "Spider-Man" and "Cars".

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