Walt Disney will cut its investment in programming for traditional television networks pretty dramatically as the company navigates the consumer shift to streaming, Chief Executive Bob Iger said on Wednesday. Iger said linear channels such as ABC still serve as an important marketing tool and reach older viewers who are not watching series such as "Abbott Elementary" on Disney's streaming platforms. Still, the goal is to "reduce pretty dramatically our investment in content specifically aimed at those traditional networks," Iger said at the MoffettNathanson’s 2024 Media, Internet and Communications Conference in New York.
Other celebrity attendees including documentary filmmaker Louis Theroux, Hollywood director Sir Ridley Scott and artist Tracey Emin.
Netflix may be a new-tech company, but it approached advertisers Wednesday with old-school TV talk: The company aims to make dozens of shows and movies that people like to watch and talk about. During an upfront presentation, executives from the streaming giant showcased a msssuve pipeline of content that included two Christmas Day games from …