Bob Iger surprised investors Wednesday by announcing that Disney projects a 20% growth in earnings per share this year|Josh Hallett|CC BY-SA 2.0
Fortnite, football, the Moana sequel and Taylor Swift will be in Disney’s future that Bob Iger envisions.
The entertainment giant’s CEO declared that the company is on the path to success and unveiled ambitious plans to expand its presence in pop culture during the quarterly earnings report on Wednesday.
He surprised investors by announcing that Disney projects a 20% growth in earnings per share this year. Stocks surged 7% in after-hours trading.
Why so optimistic?
Iger’s plans include a $1.5 billion investment in Epic Games that will mark the company’s entry into the world of videogames, monetizing Disney’s intellectual property.
Disney+ will stream an exclusive cut of Taylor Swift’s Eras Tour concert and incorporate football coverage with retired GOAT college football coach Nick Saban joining its ESPN franchise.
To make streaming profitable, Disney discouraged password sharing and plans to launch a standalone ESPN streaming service integrating betting and fantasy sports leagues by 2025.
Iger’s optimistic look comes after the announcement of a sports streaming collab between ESPN, Fox and Warner Bros. Discovery.