The future of traditional media looks bleak, according to Walt Disney Co.’s former leader: 'I do not think that all of the streamers that are in it today will survive,' said Bob Iger, former Disney CEO.
One-time Disney DIS, -0.32% chief executive Bob Iger had some pessimistic words on the outlook for the traditional movie and television businesses, while speaking at the Code Conference Wednesday.
While media companies have been making big bets on streaming, not all will succeed, in Iger’s view, given fierce competition in the market not just from legacy entertainment companies, but also from Amazon.com Inc. AMZN, +0.26%, Apple Inc. AAPL, -0.96%, and other tech giants. — Bob Iger, former Disney CEO Apple doesn’t disclose streaming subscriber numbers, but it’s thought to have a significantly smaller paying base of subscribers than lions Disney and Netflix Inc. NFLX, -0.66% do.
He also sees continued risk for the theatrical business, saying that recent streaming successes have changed his mind about what can be accomplished through home viewing.
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