According to a filing, Disney said that its investment in Hulu is the main reason for its $580 million loss in equity investments in the financial year.

CNBC reported that Rich Greenfield, an analyst at BTIG, said: “Streaming requires a strong stomach for losses, especially as you are playing catch-up.”

Disney CEO Bob Iger, in an interview said: “I think Wall Street is at least accepting of the fact that we’re doing this, that it’s the most important thing we’re doing.”

“And while I won’t say they’re cheering us on, they’re definitely giving us the room to prove that we can do it.”

ESPN, ABC, Disney Channel, amongst others have brought operating income worth $7.3 billion last year.