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Disney to crack down on password-sharing after CEO Bob Iger wins board fight

Walt Disney’s streaming service will begin cracking down on password sharing starting in June, Chief Executive Bob Iger said Thursday, as the entertainment conglomerate seeks to boost subscriber growth and profitability of the company.

Iger also said there is a need for some consolidation in the streaming industry and that Disney is ultimately looking at double-digit margins in streaming, in a wide-ranging interview with CNBC.

CEO Bob Iger said there is a need for some consolidation in the streaming industry. AFP via Getty Images

The interview came just a day after Disney investors backed Iger and other company executives, defeating a campaign by activist investors, including Nelson Peltz, who claimed Disney had underfunded performed in the age of streaming television.

“The proxy vote was a real watershed approval from the board,” he said, downplaying criticism from activist investors and saying the company was focused on succession, one of the company’s major tasks. Disney board of directors.


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Activist investors, including Nelson Peltz, have argued that Disney has underperformed in the era of streaming television. HTGanzo – stock.adobe.com

Asked about criticism from billionaire Elon Musk, who had supported Peltz in the proxy battle, Iger replied: “I don’t know.”

New York Post

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