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It reported revenue of $15.35 billion. A deep potpourri of live sporting events, including Major League Baseball, National Hockey League, and Major League Soccer games, on top of plenty of tennis, boxing, golf, college sports, golf, rugby, and cricket contests not available on ESPN's traditional TV networks.

"So it's a three-in-one, completely new experience, new technology and it will basically enable people to access ESPN just about any way imaginable", Iger said. And they want you to pay $4.99 per month for it. "And we're not only excited about it, but, if anything, points to what the future of ESPN looks like, it'll be this app and the experience that it provides".

Higher losses from streaming service Hulu, in which Disney will become a majority stakeholder pending the close of its Fox acquisition, were partially attributed to an equity decrease in investee income from US$119 million in the prior-year quarter to US$50 million. Iger is also enthused about the next Marvel movie, Black Panther, which has been getting strong word of mouth and praise from critics.

The standalone subscription will be Disney's first attempt at a direct-to-consumer service. Those will presumably wind up on the entertainment app that Disney is launching in late 2019, which will feature content from Marvel, Lucasfilm, Pixar, and the Disney TV and film studio.

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With a single app, users will be able to bypass their television provider to view some 10,000 sport events a year whose rights were purchased by Disney, ESPN's parent company.

Steven Cahall, an analyst at RBC Capital Markets, said: "We see good momentum in Disney's results that support a long-term rerating story around streaming/direct to consumer".

When asked whether Disney would spend as much as its main rival, Netflix, on its OTT products (Netflix is spending $7-$8 billion on content this year), Iger said that because of the strength of Disney's brands, it did not need to focus as much on volume.

During the earnings call, Iger said that Disney is now developing "a few" Star Wars series for the new app, and is close to unveiling one of the projects soon.


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