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Thanks to Hulu, Disney lost $580 million last fiscal year

The streaming media business is difficult. Disney, which has a 30 percent post Hulu, witnessed loss of $580 million last most recently completed fiscal year, according to an SEC filing.

This was, the SEC filing districts,” primarily due to a higher loss from our investment in Hulu, partially offset by a favorable comparison to a loss from BAMTech in the prior year .”

BAMTech is the streaming engineering that powers ESPN+ and other services. In total, streaming been taken into consideration more than$ 1 billion in damages for Disney last-place fiscal year.

Meanwhile, Disney has yet to release its own streaming service, Disney +, which is slated for late 2019. Disney is also planning to increase its investment in Hulu, focusing more on original content and international expansion.

As part of Disney’s buyout of 21 st Century Fox, Disney will soon own another 30 percent of Hulu. If the business moves similarly for Hulu this fiscal year, that will exclusively increase Disney’s losses.

Netflix supplements 8.8 M paid readers globally, says it now accounts for 10 percent of US TV screen go

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About the author, Gregg Kell

Entrepreneur, Business Success Partner and Shaping The Future Podcast Host.

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