Disney unveils strategic moves to boost streaming business: bets on Taylor Swift 

Disney’s chief executive, Bob Iger, has revealed a sequence of moves that he expects will bring “significant growth” to the entertainment firm.

In response to pressure from activist investor Nelson Peltz, Disney has unveiled a series of strategic moves aimed at enhancing its streaming business and diversifying its investments.

Partnership with Epic Games

Disney announced a partnership with Epic Games, the developer behind Fortnite, investing $1.5 billion in the gaming company. 

This collaboration will enable Disney to integrate its iconic characters into the gaming world, providing new growth opportunities.

Exclusive Streaming Content on Disney+

As part of its streaming strategy, Disney revealed plans to stream an exclusive version of Taylor Swift’s Eras Tour concert movie on Disney+. This move aims to attract subscribers and differentiate Disney’s streaming platform from competitors.

Joint Venture for Sports Streaming Platform

Disney, along with Fox and Warner Bros. Discovery, announced a joint venture to launch a new sports streaming platform. 

Leveraging their diverse sports rights portfolios, the venture aims to capitalize on the growing demand for sports content in the streaming market.

Financial Performance and Share Buyback

Despite challenges in its streaming business, Disney reported flat revenues and increased pre-tax profits for the quarter. 

The company plans to buy back $3 billion worth of shares, signaling confidence in its long-term growth prospects.

Legal Challenges and Investor Support

Disney faces a lawsuit from actress Gina Carano, who was dismissed in 2021 over controversial social media posts. The lawsuit, funded by Elon Musk, underscores broader challenges facing the company.

Market Reaction and Future Outlook

Disney’s strategic announcements were met with a positive market reaction, with shares surging by over 6% in extended trading. Despite ongoing legal challenges and investor pressure, Disney remains focused on strengthening its position in the evolving media landscape.