Disney has dramatically cut traditional TV spending, CEO says

Walt Disney (DIS.N) has cut its investment in programming for traditional television networks pretty dramatically as part of its strategy to maximize audiences and profit in the streaming TV era, Chief Executive Bob Iger said on Wednesday.

Iger said he looked expansively at traditional media when he came out of retirement to return to Disney as CEO in November 2022.

He concluded that traditional channels such as ABC still serve as an important marketing tool and help reach older viewers who are not watching series such as “Abbott Elementary” on Disney’s streaming platforms.