Disney CEO Bob Iger Appears on CNBC to Talk Hulu Sale
He also speaks about Linear Networks and how they work with the Streaming platforms
Disney CEO Bob Iger appeared on CNBC yesterday, where he shared more about the Hulu deal, linear networks, and the streaming business in general.
What’s Happening:
- Disney CEO Bob Iger made an appearance on CNBC yesterday, discussing more about the full acquisition of Hulu, buying out Comcast’s remaining stake in the streamer.
- Along with sharing how “Very Pleased" he is with this sale, Iger also shared the importance of linear networks - something the company once considered selling off previously.
- Iger made comments suggesting that having linear networks paired with the streaming business gives them a stronger advantage, considering that now they have assets that other platforms won’t have, and at a time where other media companies might be abandoning their linear networks.
- Of course, the Squawk on the Street appearance also featured more about the Hulu sale, which saw Disney purchase Comcast’s remaining stake for $438.7 million, with the total paid coming in at around $9 billion after Disney paid Comcast approximately $8.51 billion in 2023 - what they minimally owed for the purchase of Hulu.
- Iger’s appearance also afforded a fun little poke at a time recently when he wasn’t the CEO at the Walt Disney Company, explaining that “before he returned" the company was losing $4 billion on the streaming business, and saying that now they are taking in $1 billion in it.
- The Hulu deal will officially close later next month.
- Check out Iger’s full appearance in the video below.
Looking Ahead:
- Now, with the full purchase of Hulu, this brings Disney one step closer to providing not only the individual platforms, but what seems like an inevitable single app that will include all of the content from Hulu, Disney+, and ESPN+, and eventually, the new ESPN app.
- Disney+ has already seemed to take a step in this direction, making that seem look the go-to place in the near future, though I wouldn’t be surprised if we get a single new app in the future, especially with the successful “bundles" we’ve already seen.
- Iger seemingly confirmed this way of thinking in the appearance, saying they want to make “basically not only a seamless experience for the consumer, but… essentially a one-app purchase."
- The new ESPN app is set to launch later this year.
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