Disney invested in its own streaming service to position the company as a continued top competitor in the media industry, but its ambitions lead to a 66% decrease in profits for its fourth quarter.
Though an initial blow to quarterly profits, the media giant anticipates a successful launch of their service. Some analysts suggest that Disney Plus will have eight million subscribers by the end of the year.
Robert A. Iger, Disney’s chief executive says,"We’re making a huge statement about the future of media and entertainment."