Bob Iger Explores the Sale of More Films and TV Series to Rivals

https://www.bloomberg.com/news/articles/2023-02-03/disney-explores-the-sale-of-more-films-tv-series-to-rivals?sref=ExbtjcSG

Walt Disney Co. is exploring more licensing of its films and television series to rival media outlets as pressure grows to curb the losses in its streaming TV business.

The Burbank, California-based entertainment giant is seeking to earn more cash from its content library, according to people familiar with the discussions who asked not to be identified as the talks are private. The move would represent a shift in strategy, as Disney has in recent years tried to keep much of its original programming exclusively on its Disney+ and Hulu streaming services.

A spokesperson for Disney declined to comment.

Disney is under pressure to improve its financial performance and change its streaming strategy. Last year, the company turned in its worst stock market results in decades. After Disney reported a $1.5 billion loss for its online video business in the third quarter, the board fired Chief Executive Officer Bob Chapek, replacing him with Bob Iger, who had previously held that job for 15 years. Among his many challenges, Iger must also cope with a proxy fight by activist Nelson Peltz, who’s seeking a seat on Disney’s board and pushing for better performance.