Disney's CEO, Bob Iger, invests in the success of Fortnite and Taylor Swift.

Disney's CEO, Bob Iger, has revealed a series of strategic moves aimed at driving significant growth for the entertainment company. One of the plans involves streaming an exclusive version of Taylor Swift's Eras Tour concert movie on Disney+. In addition, Disney will invest $1.5 billion in Epic Games, the creator of the hugely popular video game Fortnite. This partnership will allow gamers to interact with beloved Disney, Pixar, Marvel, Star Wars, and Avatar characters. Mr. Iger stated that this venture marks Disney's largest foray into the gaming world and presents substantial opportunities for expansion. These announcements came shortly after Disney announced a joint venture with competitors Fox and Warner Bros. Discovery to launch a new sports streaming platform. With rights to various sports events such as the FIFA World Cup, Formula 1, NFL, NBA, and MLB, the three media giants aim to dominate the sports streaming market. Despite these positive developments, Disney reported a decline in subscribers for its Disney+ streaming service. Following a price increase last October, the platform lost 1.3 million subscribers. However, the company remains optimistic, projecting profitability for its streaming business by September of this year. In terms of financial performance, Disney reported $23.5 billion in revenue for the period between October and December, which remained relatively stable compared to the same period in the previous year. Additionally, Mr. Iger announced plans to repurchase $3 billion worth of shares to address pressure from activist investor Nelson Peltz. Peltz has urged Disney to enhance profits from its streaming business and boost its film box office performance. Following the announcements, Disney's stock rose by over 6% in extended trading in New York, indicating positive market reception. On a separate note, Disney is currently facing a lawsuit from actress Gina Carano, who was fired in 2021 due to a controversial social media post likening being a Republican to being a Jew during the Holocaust. Elon Musk is funding the lawsuit and has urged others to join through his platform X (formerly known as Twitter).