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  "documentTitle": "Disney | Shareholder Engagement Presentation Deck | 66 slides",
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  "authorName": "The Walt Disney Company",
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  "notes": "Uses a waterfall chart to explain the bridge from Q4 FY22 operating income to Q1 FY24, and a comparison table for Netflix vs Disney.",
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      "text": "Operating losses of our entertainment streaming business have significantly improved; We remain focused on achieving profitability in streaming by the end of FY24; Netflix reached profitability in 2016; Netflix had a 21% operating income margin in 2023.",
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      "text": "The Netflix comparison may be a little bit fatuous ... They [Netflix] have a ten-year head start on Disney. I think we have to drop that analogy. I understand why Bob Iger would sound frustrated about that",
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      "text": "Source: Company data. DTC streaming businesses operating income is a non-GAAP financial measure...",
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