With The Walt Disney Co. drowning in red ink at its direct-to-consumer business, CEO Bob Iger admitted he’s envious of the profit margins posted by streaming leader Netflix.
On Disney’s third-quarter earnings call with analysts Wednesday, Iger was asked what is the company’s long-term expectation for direct-to-consumer sales in terms of profit margins, given that Netflix was more profitable when its streaming business was at about the same revenue level as Disney’s.
