Disney CEO Bob Iger
Amy Sussman/WireImage
Disney CEO Bob Iger gave a mea culpa for big losses incurred while launching streaming platforms like Disney+ during an investor conference appearance on Wednesday.
“As we got into the streaming business in a very, very aggressive way, we tried to tell too many stories. Basically we invested too much, way ahead of possible returns. It’s what led to streaming ending up as a $4 billion loss,” Iger told the MoffettNathanson Media, Internet & Communications Conference during a session that was webcast.
Iger addressed a falling out with his hand-picked successor, former Disney CEO Bob Chapek, whose tenure he called out for lavish and misplaced content spending. “It was clear to me that our structure was not working, because we were removing accountability from those that were basically…
