Disney CEO Bob Iger announced that the company is significantly reducing its spending on traditional TV content. This decision comes as the traditional pay-TV universe continues to shrink, prompting Disney to cut its investment in linear TV networks and amortize the expenditure across streaming platforms. Iger also admitted that Disney over-invested in streaming content, which resulted in volume rather than quality. Additionally, marketing expenses for Disney+ are deemed too high and will be cut to help the company achieve profitability by the end of its fiscal year. Disney plans to invest in technology to deliver highly customized messages to its audience.