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Thanks to Hulu, Disney lost $580 million last fiscal year

The streaming media business is difficult. Disney, which has a 30 percentage stake Hulu, construed losses of $580 million last fiscal year, according to an SEC filing.

This was, the SEC filing districts,” primarily due to a higher loss from our investment in Hulu, partially offset by a favorable comparison to a loss from BAMTech in the previous year .”

BAMTech is the streaming technology that powers ESPN+ and other services. In total, streaming accounted for more than$ 1 billion in loss for Disney last fiscal year.

Meanwhile, Disney has yet to release its own streaming service, Disney +, which is slated for late 2019. Disney is also planning to increase its investment in Hulu, focusing more on original content and international expansion.

As part of Disney’s buyout of 21 st Century Fox, Disney will soon own another 30 percent of Hulu. If the business becomes similarly for Hulu this fiscal year, that will only increase Disney’s losses.

Netflix adds 8.8 M paid customers globally, says it is currently chronicles for 10 percentage of US TV screen age

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