Bob Iger poses with Mickey Mouse attending Mickey’s 90th Spectacular at The Shrine Auditorium on October 6, 2018 in Los Angeles.
Valerie Macon | AFP | beautiful pictures
To hit its high subscriber target, Disney+ needs “more content for more people,” says former Walt Disney CEO Bob Iger.
Holding company Disney repeat target 230 million to 260 million Disney+ subscribers by 2024 in its fiscal fourth-quarter earnings report in November. At the time, the company said it had a total of 118.1 million subscribers.
“There’s guidance there that the company has provided that I won’t update or comment on too much,” Iger said in an interview with CNBC’s David Faber above “Squawk on the street” Tuesday. “Clearly, the company has expressed confidence in its ability to achieve the guidance it has given.”
Disney+ got a boost in the early days of pandemic caused by corona virus, as consumers are stuck at home and desperate for entertainment. However, growth has slowed in recent months as more people are returning to outside activities and working in offices.
The streaming service boasts a large catalog of family-friendly content, including classic Disney and Pixar animated features. It also has must-see series tied to the Marvel Cinematic Universe, including “Loki” and “Hawkeye” as well as the upcoming Star Wars “The Mandalorian” and “The Book of Boba Fett” series, but its library there aren’t as many new entrants as rival platforms like Netflix.
“I think [Disney+] more volume is needed,” Iger said. And perhaps there needs to be more dimension, meaning, essentially, more programming or more content for more people, different demographics. But, [CEO Bob Chapek] is aware of that and is working on those problems. ”
Shares of Disney closed Monday at $146.47, down 1.5%. Since the start of the year, Disney shares have dropped 19%, putting its market value at $266.23 billion.
Follow CNBC throughout the day to see more of David Faber’s interview with Bob Iger.
