Particularly underperforming was “Dark Phoenix,”
a Fox X-Men movie that failed to find its
audience. That offset box office successes such as
“Avengers: Endgame.”
Disney completed its $71 billion acquisition of
Fox’s entertainment business in March, putting
“Cinderella,” ?The Simpsons,” ?Star Wars” and
“Dr. Strange” under one corporate roof. The deal
paved the ways for Disney to boost its streaming
ventures, with the addition of Fox videos. In May,
Disney also gained full control of Hulu after
Comcast sold its stake in the streaming service.
Iger said it would be two years before Disney can
have an impact on the Fox films in production.
“We’re all confident that we’re going to be able
to turn around the fortunes of Fox live action
and you’ll see those results in a couple of years,”
he said.
Disney also spent more money on its ESPN Plus
and upcoming Disney Plus streaming services.
And its results were hurt by taking control
of Hulu, including a $123 million charge as it
lowered its estimated valuation of the service.
Disney said Tuesday that it will offer its three
streaming services in a package for $13. Hulu
now costs $6, and ESPN Plus costs $5. The
upcoming Disney Plus service will cost $7. So the
package will represent a $5 savings. Disney is
making the package available Nov. 12, the same
day Disney Plus is launching.
Disney is turning to its own streaming services to
compete with Netflix as people drop traditional
cable services, and Disney loses revenue from its
ESPN and traditional channels.
Iger said Disney Plus won’t have as much video
as rivals such as Netflix might have, but it will
have quality, including launching with eight
“Star Wars” movies, 18 Pixar movies, 70 Disney
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