Disney CEO Expects $1 Billion From Web
By RYAN NAKASHIMA,AP
Posted: 2008-03-10 20:13:10
Filed Under: Tech News
LOS ANGELES (March 10) - The Walt Disney Co. expects to collect $1 billion in revenue from online content this fiscal year, a significant increase over the estimated amount for the previous year, CEO Robert Iger said Monday.
Iger told analysts the company was "fairly aggressive" with its expansion onto the Internet as a way of extending consumer contact with its most popular franchises and creating new revenue streams.
"If we're not there, (people) will just access someone else's content," he said in Webcast comments at Bear Stearns ' 21st Annual Media Conference in Palm Beach, Fla.
Disney said the online revenue included advertising from its ABC network hits such as "Lost" and "Grey's Anatomy" that are rerun on ABC.com; online ads on sites such as ESPN.com, subscriptions to online games; downloads of movies and music; and e-commerce that is not related to its theme parks.
The last time the company estimated digital revenue was in June 2007, when chief financial officer Tom Staggs said he expected the company to post more than $700 million for fiscal 2007, which ended in September.
Disney posted total net income of $4.7 billion on $35.5 billion in revenue last year.
The company does not break out online revenue in its quarterly earnings releases but has made numerous strategic efforts to spread its brands into the rapidly growing Internet world.
Last month, the company announced it had created a special studio to develop short-form dramatic and comedy series exclusively for broadcast on ABC.com and YouTube.
Copyright 2008 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.
2008-03-10 20:13:10
By RYAN NAKASHIMA,AP
Posted: 2008-03-10 20:13:10
Filed Under: Tech News
LOS ANGELES (March 10) - The Walt Disney Co. expects to collect $1 billion in revenue from online content this fiscal year, a significant increase over the estimated amount for the previous year, CEO Robert Iger said Monday.
Iger told analysts the company was "fairly aggressive" with its expansion onto the Internet as a way of extending consumer contact with its most popular franchises and creating new revenue streams.
"If we're not there, (people) will just access someone else's content," he said in Webcast comments at Bear Stearns ' 21st Annual Media Conference in Palm Beach, Fla.
Disney said the online revenue included advertising from its ABC network hits such as "Lost" and "Grey's Anatomy" that are rerun on ABC.com; online ads on sites such as ESPN.com, subscriptions to online games; downloads of movies and music; and e-commerce that is not related to its theme parks.
The last time the company estimated digital revenue was in June 2007, when chief financial officer Tom Staggs said he expected the company to post more than $700 million for fiscal 2007, which ended in September.
Disney posted total net income of $4.7 billion on $35.5 billion in revenue last year.
The company does not break out online revenue in its quarterly earnings releases but has made numerous strategic efforts to spread its brands into the rapidly growing Internet world.
Last month, the company announced it had created a special studio to develop short-form dramatic and comedy series exclusively for broadcast on ABC.com and YouTube.
Copyright 2008 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. All active hyperlinks have been inserted by AOL.
2008-03-10 20:13:10
