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Disney shakes up streaming approach after losing nearly $5 billion due to pandemic

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Streaming was about the only thing working for Walt Disney Co. amid a pandemic that has all but paralyzed its theme parks, live productions and cruise line, so Disney is going to rely on that direct-to-consumers pipeline even more.

Disney
DIS,
+0.80%

reported a depressing financial performance Tuesday that included a quarterly loss of nearly $5 billion due to COVID-19 and long-term depreciation of its European linear television channels. The only segment in the media empire to grow amid the pandemic included Disney+, the company’s streaming service that launched late last year and has already grown to more than 60 million subscribers.



Source marketwatch.com

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