Despite Cord-Cutting, Disney's TV Business Is Still Strong
The coronavirus pandemic had an especially harmful effect on The Walt Disney Company (NYSE: DIS). A big part of its annual revenue depends on bringing people together in person. Think of theme parks, hotel resorts, cruise ships, and big-screen theaters that all had to shut down at the onset of the pandemic.
Disney's streaming services, however, were a bright spot, adding over 100 million subscribers in a little over a year, but the segment is not yet profitable. That left Disney's linear TV segment to carry the company through 2020.
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Source Fool.com
