disney spends big on its streaming bet

Disney Spends Big on Its Streaming Bet

Business

LOS ANGELES—Walt Disney Co. shareholders on Wednesday got a glimpse of the expenses coming to the company as it readies the launch of its streaming service in November, but it nonetheless beat Wall Street expectations for its fiscal second-quarter financial results.

The continued investment in the company’s ESPN+ streaming service—and the expenses associated with its forthcoming Disney+ service—caused Disney’s direct-to-consumer division to post a loss of $393 million for the quarter, widening from a loss of $188 million…

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