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So what does Bob blame this breathtaking $4 billion loss on? Get a load of this …we tried to tell too many stories,
” Iger said on a recent webcast. “Basically, we invested too much, way ahead of possible returns. It’s what led to streaming ending up as a $4 billion loss.”The result of spending more on content than could be turned to profit “resulted in volume and not quality, which turned out to be a mistake,” Iger added. The Disney boss conceded volume was required to win the streaming wars against rivals like Netflix and Prime Video.
But he added: “There’s a very fine line that you can cross and get in trouble if your volume ends up diluting management’s attention to what is being made is right. And that’s what happened to us. So I have pulled that back,” Iger told the conference., and environmental propaganda. No, none of that had anything to do with what was once the richest and most prosperous brand in entertainment history losing $4 billion.
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