Disney+ to crack down on sharing passwords: CEO [Video]

Walt Disney’s streaming service will start cracking down on password-sharing from June, CEO Bob Iger said on Thursday, as the entertainment conglomerate looks to boost subscriber growth and make the business profitable.

Iger also signalled a need for consolidation in the streaming industry and said Disney was “eventually” looking at double-digit margins for the business, in a wide-ranging interview with CNBC.

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Streaming rival Netflix’s password-sharing crackdown had helped it add nearly 22 million subscribers in the second half of 2023 and shatter Wall Street expectations.

Iger’s interview came just a day after Disney investors backed him and other company directors in a proxy battle with activist investors, including Nelson Peltz, who argued that the Mouse House had underperformed in the streaming-television era.

“The proxy vote was a decisive, true endorsement of the board,” he said, …