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After Netflix, Disney is actively working on preventing you from using your friend’s password

by khushahal vishwakarma
Disney

Disney’s CEO Bob Iger stated during an earnings call that Disney will soon be revising its customer agreements and presenting additional terms and sharing policies by the end of this year

On the other hand, Netflix is ready to join the ranks of companies curbing password sharing. Bob Iger, the CEO of Disney, recently disclosed the firm’s aggressive response to the account sharing problem on an earnings call.

Iger also mentioned during the earnings call that Disney will soon be revising its customer agreements and presenting additional terms and sharing policies by the end of this year.In addition, the business will put initiatives in place to raise monetization by 2024. This action comes after Netflix recently instituted an extra charge for sharing accounts outside of the home.

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While Disney+ experienced a slight dip in the number of customers in the United States and Canada, dropping from 46.3 million to 46 million, its Hotstar service in India took a significant hit. Starting April, this service saw a decline of over 12 million customers, leaving its count at 40.4 million. This decline could potentially be attributed to losses in Disney’s streaming rights for the Indian Premier League (IPL) from the previous year.

Other Disney streaming platforms, ESPN+ and Hulu, witnessed only marginal fluctuations in their customer numbers.

During trading hours following the closing bell, Disney’s stock increased by about 3%.This increase aligns with the announcement of Iger’s substantial $1 billion growth in operational revenue within Disney’s streaming sector over the past three quarters. The streaming business is focused on achieving profitability by the year 2024.

In a recent interview with CNBC, Iger described his strategy for the entertainment conglomerate, which calls for cost-cutting on initiatives like Marvel and Star Wars ones. Also, he suggested that Disney would purchase a number of unimportant cable networks including ABC, FX, and National Geographic.

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Despite initial expectations for a two-year tenure, Iger extended his contract with Disney, committing to lead the company until at least 2026. Since resuming his role as CEO last year, Iger has already initiated significant changes within Disney, including cost-cutting measures and content integration between Hulu and Disney+.

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