“Whereas we have also said previously, we anticipate upward momentum later in the fiscal year to be driven by realizing the full impact of price increases, the launch of the ad tier internationally and subscriber growth.”

In context

“mer promotion. However, we expect to see sub growth rebound later in the fiscal year. Growth in Entertainment D2C advertising revenue of 4% in Q4 versus the prior year, partially offset linear ad declines. The growth reflects an increase at Disney+ while Hulu results declined due to lower political and technology category advertising. We continue to expect to reach profitability at our combined streaming businesses in Q4 of fiscal 2024. Although as we have mentioned in the past, we don't expect linear progress from quarter to quarter. While we expect Entertainment D2C operating losses in Q1 to be generally in line with Q4 due to higher sports rights costs at ESPN+ aligned with the start of the NHL season, we anticipate a modest sequential decline in Q1 for the combined streaming business. Whereas we have also said previously, we anticipate upward momentum later in the fiscal year to be driven by realizing the full impact of price increases, the launch of the ad tier internationally and subscriber growth. At linear networks, which now excludes our sports channels, fourth quarter operating income was flat to the prior year, reflecting lower advertising and affiliate revenues which were generally offset by a decrease in marketing and programming and production costs. Advertising revenue declines were driven by our domestic business, primarily at ABC and our own TV stations. Domestic entertainment affiliate revenue decreased by 4% in the fourth quarter versus the prior year due to a 6 point decline from fewer subscribers, and a 1.5 point adverse impact from the Charter blackout, partially offset by roughly 4 point impact from higher rates. As Bob mentioned, we remain focused on driving additional cost efficiencies in this business over the long term. Content sales, licensing and other, lower”