Iger also said that there was no plan to merge or bundle together this new service with Hulu or its sports streaming service ESPN+. He has no background in creative content production, shifting into the role from Walt Disney Studios, where he was president of marketing. Adjusted earnings per share totaled $1.87, less than the Street's expectation of $1.95.
In a statement, Iger said he was excited about "opportunities ahead for continued growth". Pretty much, Marvel movies hit Netflix eight or nine months after their theatrical debut, and all that really proves is that Captain Marvel would normally likely hit around November or December 2019...which is perhaps a little after we expected their service to hit. Disney has seen "noticeable improvement in the rate of (subscriber) loss in each of the last four quarters", he said.
ESPN's highly profitable operation has been under pressure in recent years as consumers cut the cord and flock to such streaming services as Netflix and Amazon Prime video. However, those hoping to stream most of the franchise's films will find that they'll be missing from the service - at least, at first.
"The price will reflect a lower volume of product, as will the cost of producing and owning that content", Iger explained.
Elsewhere, Disney's studio and entertainment division saw a 20 percent boost in sales, to $2.88 billion, due mainly to the success of "Avengers: Infinity War" and "Black Panther".More news: An MLB Broadcaster Has Been Diagnosed With Cancer Again
More news: Angelina Jolie claims Brad Pitt has not paid ‘meaningful child support’
More news: HGTV Is Going to Save the Original Brady Bunch House
Overall, Disney posted earnings of $1.87 per share excluding certain items, an increase from a year earlier, but below Wall Street's average forecast of $1.95, according to Thomson Reuters I/B/E/S.
The company's theme parks division reported a 15-percent rise in profit to $1.3 billion with increases at domestic and global resorts.
Revenue rose 7 percent to $15.23 billion - also missing forecasts.
In the fiscal third quarter, Disney's net income rose 23 percent to $2.92 billion, or $1.95 per share, from $2.37 billion, or $1.51 per share, a year ago.