LOS ANGELES — Disney+ is still growing fast as the streaming service takes the Walt Disney Co. into the future of entertainment. But the effort to stay dominant in the age of Netflix is costing the Burbank giant in a big way.
Disney's direct-to-consumer division, which also includes Hulu and ESPN+, on Tuesday reported an operating loss of nearly $1.5 billion, more than doubling its loss of $630 million during the same quarter a year ago.
Armed with shows and movies from the Star Wars and Marvel franchises, Disney+ added 12.1 million subscribers during the company's fourth fiscal quarter, bringing its total to 164.2 million, including cheap subscriptions from India. Including Hulu and ESPN+, Disney's streaming operation has surpassed 235 million subscribers.
