Traditional TV, comprising broadcast, cable, and satellite, is "marching to a defined precipice, and it's going to be pushed off," according to Bob Iger, the former CEO of Walt Disney Co.
Iger claimed that while streaming TV is attracting subscribers, not all internet services would be successful.
Iger, who stepped down from his position as executive chairman of Disney in December, stated, "I do not think that all of the streamers that are in it today will survive." In spite of recent subscriber losses, he predicted the pioneer of the industry Netflix Inc. will continue to prosper.
Iger, who started the ESPN+ and Disney+ streaming services while running the business, declared, "Clearly I'm a huge believer in Disney." "They possess the IP."
He declared that Amazon.com Inc. and Apple Inc. "are not going to stand still." They will develop more and flourish. They have demonstrated that they are capable, thus they will remain.
When questioned about Warner Bros. Discovery Inc., which recently concluded a significant merger with the parent company of HBO in April, the CEO who spoke on Wednesday at Vox Media's Code conference in Beverly Hills, California, remained silent.
Iger, a former weatherman who worked his way up to become the head of ABC during the height of broadcast television, said he is enjoying retirement and doesn't regret overseeing the biggest entertainment business in the world. Despite being asked, he claimed he was unlikely to join the board of directors of a significant corporation.