Disney CEO Iger makes profitable streaming a priority

Walt Disney Co Chief Executive Bob Iger has said that one of his top priorities is to make the company's streaming business profitable.

Iger is responsible for Disney's all-in embrace of streaming, and the launch of its marquee service, Disney+, but he acknowledged the measurement of success has changed. Wall Street investors now focus on profitability, not merely subscriber gains.

"Instead of chasing (subscribers) with aggressive marketing and aggressive spend on content, we have to start chasing profitability," Iger told a town-hall meeting on the company's Burbank, California.

"In order to achieve that, we have to take a very, very hard look at our cost structure across our businesses."

Disney joins a number of media companies seeking to grow their streaming services without sacrificing its film or television businesses.

The board announced it had installed Iger as chief executive on Nov. 20 after removing his handpicked successor, Bob Chapek, who had lost the support of senior staff.

"Filled with gratitude and excitement to be back @WaltDisneyCo!," Iger tweeted on Monday with a picture of the company's headquarters.