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Disney Offers look at investments (and losses) ahead of streaming service launch



Walt Disney Co. gave investors a more detailed look at their investment in building a direct-to-consumer business in financial documents filed today with the SEC. The company redirects Disney's performance over the past three financial years to adapt to the new corporate structure created by the reorganization last March.

While the numbers are not new (this is not a conversion of earnings) archiving more clearly comes the losses associated with Disney's investments in Hulu and BAMtech, the technology underlying ESPN + and upcoming Disney + streaming services . The latter is expected to be launched later this year.

Disney's direct consumer companies, along with its international channels, raised 738 million. Kr. Losses in fiscal policy 201

8, which is more than twice the deficit of 284 million in the previous financial year. $. [19659004] The company's share of losses in Hulu deepened in fiscal 2018 when Disney booked $ 580 million in red ink. The Burbank entertainment giant, who jointly owns the streaming service along with Fox, Comcast and WarnerMedia, said the losses reflect the streaming service's increased programming and marketing expenses, which were partially offset by rising advertising and subscription revenues. Disney does not break out how much money it has received from Hulu in programming license fees.

Disney's share of Hulu's losses was $ 421 million.

The Burbank entertainment giant also undertook losses as a result of its decision to acquire a majority stake in BAMtech for $ 1.58 billion in August 2017.

Disney has not been shy to use aggressively to position the company for the future, where consumers are increasingly accessing content via streaming services. It was one of the key factors cited in the decision to acquire much of the 21st Century Fox movie and television business – a 71.3 billion deal that will provide high quality content to populate Disney's direct consumer services.

"Our top priority is to take full advantage of our global brands and good content to create world-class direct to consumer entertainment," said Disney's Chairman and CEO Robert A. Iger in a statement. "We have the structure and management in place to drive the growth of our DTC business, and our acquisition of 21st Century Fox enhances our ability to deliver significant value to consumers and shareholders."

Disney said it will discuss its direct-to-consumer business more closely on Disney Investor's Day on April 11. It will probably be something Iger discusses during the company's next earnings call set to February 5.


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