While speaking at a conference, CEO Bob Iger on Wednesday identified investing in technology as a measure that will help the Walt Disney Company make streaming a money-maker.
CEO Bob Iger on Wednesday identified investing in technology as a measure that will help the Walt Disney Company make streaming a money-maker. "Now what we really need to do is invest in technology to serve the user because it’s very, very clear that in order for us to turn streaming into a profitable business, it has to have a user first mentality," he said at the MoffettNathanson Media and Communications Summit.
Iger, speaking at the conference, said Disney’s marketing expenses for its streaming business were "too high" because the entertainment giant "didn’t build in technology to have not only the algorithms but the ability to send very, very highly customized messages to our subscribers where we believe they’re potentially at risk" of canceling their membership. One of Disney’s biggest streaming rival – Netflix – is "brilliant at this," according to Iger.
The entertainment giant must invest in technology "to basically create much more to serve the user, to serve the customers, really, and it’s something that is really subtle, but really important, which is that first screen experience needs to be really customizable and dynamic and constantly changing" each time subscribers use the Disney+ platform, the Disney CEO also said. Artificial intelligence, Iger said, will play a significant role in that.
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