Rising theme park ticket and food prices weren't enough to offset increased costs at Disney during the second quarter - helping to produce adjusted earnings per share that missed Wall Street expectations.
Stay tuned to Heroic Hollywood for the latest news on Marvel's new live-action series and Disney's upcoming streaming service as we learn it.
Iger did not reveal the exact price for the service, but he did say Disney's streaming service will cost "significantly less" than Netflix.
Interestingly, anything that's already licenced to Netflix - including older Marvel and Star Wars movies up to and including Ant Man And The Wasp and Solo - will remain on the rival site, with Disney apparently having no plans to steal them back anytime soon.
This was the biggie and while things may start out somewhat slow, Disney is going to have a massive library on its streaming service over time. "We don't really want to go to market with an aggregation play that replicates the multi-channel environment that exists today", he said.
Iger said that "Disney Play" would be "family-oriented" and would appeal to a different segment than Hulu.
Iger said he did not believe the launch of an OTT TV service would complicate Disney's relationship with its distribution partners and said traditional distributors were "very, very interested in distributing our D2C products" just as they increasingly distribute Netflix. Disney's shareholders and United States regulators have approved the Fox bid.
Elsewhere, Disney's studio and entertainment division saw a 20 percent boost in sales, to $2.88 billion, due mainly to the success of "Avengers: Infinity War" and "Black Panther". In the piece we get some insight into what Strauss has planned for the service when it launches next year, including one of its most valued properties, Star Wars.
Within media networks, broadcasting performed strongly both in terms of revenue and operating income growth while cable networks recorded flat revenue and a 5% dip in operating income, pushed down by losses at the company's BAMTech division.